Sonangol is set to launch a bond issuance tomorrow August 15th, through which it will contract debt in the amount of 75 billion kwanzas with a maturity of five years (2023-2028), according to a statement released by the company on Friday. In the document, the oil company announces a Public Subscription Offering of bonds valued at 75 billion kwanzas, at a unit price of 10,000 kwanzas, corresponding to 10 million units at an interest rate
Figured at 21.2 billion dollars at the beginning of the year 2023, the fortune of the Nigerian billionaire and the richest man in Africa, Aliko Dangote, recorded a fall of almost 6 billion dollars, from 21 $15 billion following the devaluation of Nigeria’s national currency, the Naira. According to data from the Bloomberg agency based on the Billionaires Index method, this drop, the highest recorded since 2014, is tributary to the wake of the elimination
Total sales stood at just over $106 billion, down from $150 billion in the second quarter of 2022. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease “mainly reflected the impact of lower crude oil prices and weakening refining and chemicals margins.” The company reported net income of $30 billion, compared to $48 billion in the second quarter of 2022, a decline of 37.8 percent. Aramco nevertheless raised its dividend
Crude oil closed higher on Tuesday August 8th after spending much of the trading session in the red. Prices were supported by an upward revision in the United States Department of Energy’s (DoE) projection for Brent crude oil prices. Production cuts by Saudi Arabia and Russia also seem to be having the intended effect of boosting prices by limiting supply, according to analysts. On the New York Mercantile Exchange (Nymex), September WTI crude oil closed
The National Agency for Oil, Gas and Biofuels (ANPG) has approved the work plan and budget for oil concessions, which includes several campaigns for preventive maintenance of equipment, with a focus on activities to be carried out on various oil platforms. Oil production comes from 16 concessions, 13 in the offshore maritime zone and three in the onshore land zone. The approved plan by ANPG outlines activities to be conducted on the platforms “GS –
Energy, Capital & Power (ECP) an Africa-focused energy investment platform and organizers of the Angola Oil & Gas (AOG) conference and exhibition is pleased to announce that João Filipe, Founder and CEO of Angolan logistics and supply chain management company, Cabship, will participate in this year’s edition of Angola’s premier event for the oil and gas sector. Taking place under the theme ‘Angola Oil & Gas Energy Security, Decarbonization, and Sustainable Development,’ AOG 2023 will
Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world’s second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 2 cents to $85.16 a barrel by 0609 GMT, while U.S. West Texas Intermediate crude for September rose 9 cents, or 0.1%, to $81.64. Both benchmarks were on track for a sixth week of
Three major international oil companies have announced the resumption of their operations in Libya after a 10-year absence, the Libyan National Oil Company said on Thursday. The NOC said in a press release it “received official notifications from the Italian company Eni and the British company British Petroleum regarding the lifting of force majeure and the resumption of exploration and contractual obligations in the blocks awarded to them in the Ghadames Basin (A-B) and offshore
Over the past year, the global energy market has seen significant fluctuations, with factors such as the Russia-Ukraine war and increased gas prices impacting the industry. As a result, Big Oil CEOs have seen a boost in their earnings. Here is a breakdown of how much money some of the major oil company CEOs made in a year: Overall, the compensation figures indicate that Big Oil CEOs have received substantial pay increases, despite some of
Oil prices jumped on Thursday after Saudi Arabia said it would extend its unilateral voluntary cut of 1 million barrels per day (bpd) into September, adding that the cut could be extended or extended and deepened. Minutes after the Saudi announcement via the official Saudi Press Agency, oil prices which were flat until then, rose by 1%. The Saudi extension was largely expected by the market and traders. The announcement comes a day ahead of
