The Zambian Energy Minister, Peter Chibwe Kapala, reiterated, Thursday (7), in Luanda, his country’s commitment to accelerate feasibility studies for the construction of the pipeline aimed at exporting oil and its derivatives from the South. from Angola. Peter Chibwe Kapala assured journalists, at the end of a meeting held between the delegation he led and that of the Ministry of Mineral Resources, Oil and Gas, to seek to underline the “economic advantages” that Zambia could
The Head of State, João Lourenço, believes that the country will be able, in the near future, to export oil derivatives, as soon as domestic needs are met, with the entry into operation of more refining projects. “I believe there will come a time when we will exceed our needs, especially diesel and gasoline”, assured João Lourenço when he answered a question posed by Jornal de Angola at a press conference, on the sidelines of
The President of the Republic, João Lourenço, will proceed, this Thursday, to the inauguration of the new Gasoline Production Complex assigned to the Luanda Refinery. The start of this project will make it possible to improve the quality of gasoline, but also to increase production capacity from 395,000 to 1,580,000 liters per day. According to a statement from the Ministry of Mineral Resources, Oil and Gas, to which VerAngola had access, the start-up of the
The construction of an oil pipeline between the two countries remains a central issue in relations between Angola and Zambia, with the Zambian energy minister visiting the country to learn about the works in progress. Peter Chibwe Kapala arrives in Angola this Wednesday – where he will return for the second time in less than a year – returning to Zambia on July 9, according to the Ministry of Petroleum and Mineral Resources, in a
The consultancy Oxford Economics has revised the forecast of oil production in Angola, anticipating that the country will be able to pump 1.18 million barrels a day this year, increasing production for the first time since 2015. “We expect oil production in Angola to rise to 1.18 million barrels per day in 2022, up from 1.13 million barrels in 2021, but the balance of risks is negatively unbalanced due to the possibility of further technical
The Organization of Petroleum Exporting Countries and its allies (OPEC+), led by Saudi Arabia and Russia, confirmed this Thursday that it will increase oil supplies by 648,000 barrels of crude oil per day (bpd) to a total of 43.85 million barrels bdp in August.The 31st OPEC and non-OPEC Ministerial Meeting is scheduled for 3 August.Angola is a member of OPEC and its production quota has increased from 1,450 to 1,502 million barrels per day for
Angola is expected to have a less severe impact when compared to its African partners due to increased oil revenues; more stable production and high oil prices have resulted in a flow of petrodollars during the last year, which has strengthened the rate of exchange rate of the kwanza and improved the opinion on the sovereign credit of the country”, write the analysts of Oxford Economics. In the comment on the impact of the war
The National Agency for Petroleum, Gas and Biofuels (ANPG) forecasts a turnover in the oil sector, for the next five years, of around US$66 billion. This forecast includes the extension of production licenses already signed between ANPG and the operators, namely in Blocks 15, 17, 18 and also in Block 0, as well as activities related to the exploration and development of oil projects and operational and administrative. If confirmed, this forecast translates into an
Angola overtook Nigeria as the largest oil producer in sub-Saharan Africa in May, according to data from the Organization of Petroleum Exporting Countries (OPEC), by pumping 1.1 million barrels a day. Angola’s production fell from 1.183 million barrels a day pumped in April to 1.162 million in May, but benefited from an even greater drop by Nigeria, whose production fell from 1.219 million barrels in April to 1.024 million the following month, thus losing the
The Cabinda Refinery equipment was tested on May 2, in Houston, at the facilities of VFuels, the company responsible for its construction. The result of the Factory Acceptance Test was positive, followed, now, by the shipping phase to Angola and, later on, its assembly in Cabinda. The Factory Acceptance Test verifies and certifies that the equipment produced and packaged meets the functionality and the defined objectives, before delivery at the destination, being one of the decisive
