Statistical data from the world’s energy sector for the year 2022 showed that new global oil and gas discoveries have created the industry’s greatest value over the last decade in terms of oil and gas exploration, with investments in the order of $33 billion to a base price of $60/BBL, which could generate cyclical returns of 22%. This boom in hydrocarbon exploration was led by major discoveries in Namibia, Guyana, Brazil and Algeria. Exploration companies
Angola and Germany discussed, yesterday 15th February, at the Intercontinental Hotel, in Luanda, the basic conditions for the development of the National Hydrogen Strategy in Angola. A note states that the topic has been addressed since mid-2021, in various dialogue initiatives between the two countries, focused on energy transition and the opportunities that green hydrogen can offer the country. According to the Minister of Energy and Water, João Baptista Borges, hydrogen can make a very
From the 14th to the 18th of February, the working visit of the International Secretariat of the Extractive Industry Transparency Initiative (EITI) to Angola takes place. According to a note sent to JA Online, EITI’s work agenda includes analyzing both the degree of execution of the Work Plan, as well as the structure of the National Secretariat. The delegation’s visit also includes the sharing of information on the status of implementation of EITI Angola, meeting
The Organization of Petroleum Exporting Countries (OPEC) revised, on Tuesday 13th february, slightly upwards the forecast for global oil demand in 2023, estimated at 101.87 million barrels per day, 2.33 percent more than in 2022. The 2.33 percent increase, which represents an increase of 2.32 million barrels per day in consumption from last year’s average of 99.55 million barrels per day, is 100,000 barrels per day or 0 .1 percent higher than the estimate a
Crude oil prices started the week with a loss as traders await the latest inflation reading from the United States and the market prices in Russia’s stated plans to reduce oil production by half a million barrels. The Bureau of Labor Statistics is releasing its consumer price index report for January tomorrow but a revision of December figures released last Friday showed that CPI for the last month of 2022 actually increased instead of decreasing
Security specialists, professionals and managers, managers of ports, maritime terminals and other operators, as well as port captaincies, recently participated in a round table on the theme “The importance of corridors in the growth of ports and the economy national” and at the symposium “Improving security in ports in Angola”. According to a document that JA had access to yesterday, 13 feb the two events were organized by the Association of Ports of Angola (APANG).
Brent oil (a benchmark for Angolan exports) for delivery in April started the week’s session, this Monday, February with a drop of 0.61 percent, standing at US$85.86 a barrel. On Friday 10th February (end of session), Brent for April was traded on the Intercontinental Exchange (ICE) up 2.24 percent ($1.89), at $86.39 a barrel. In turn, WTI oil, a benchmark in the United States of America, fell by 0.68 percent yesterday 13th Feb to US$79.19. Globally, oil
Uganda has started drilling operations on its first commercial oil discovery. The East African country has secured the first of the 4 platforms planned to operate the discovery, and has already started drilling its 1st commercial well in hopes of achieving first oil production by 2025. The Kingfisher oil field in Kikuube District is operated by the China National Offshore Oil Corporation, CNOOC, but is co-owned by TotalEnergies and Uganda’s state oil company, UNOC. The
The Competition Regulatory Authority (ARC) registered, in the four-year period 2019-2022, a total of 10 notified merger operations between companies in the oil sector, which corresponds to 24 percent. The data were advanced by the administrator of ARC, Nelson Lembe, at the methodological seminar on merger operations between companies in the oil sector. “There is a need to achieve a more competitive and fair business environment, capable of attracting good investments, which is why Competition
Brent negotiations, a benchmark for Angolan oil exports, opened higher on Monday in the international market, standing at US$80.73 per barrel at the time of writing, registering a daily variation of 79.65 to 81.24 , up to the time of the survey. Despite Brent falling 10 percent last week to $80 a barrel, China’s demand prospects remain strong despite the commodity’s recent decline, experts say. Goldman Sachs bank raised its China demand forecast to 16.0
