Angola employed approximately $549 million in the importation of 704.7 million metric tons of fuel for commercialization during the 2nd quarter of 2023, which is 21% less than the same period in 2022, as declared yesterday in Luanda by the Director-General of the Petroleum Derivatives Regulatory Institute (IRDP). Luís Alves Fernandes, speaking during the presentation of the sector’s balance from April to June, stated that the imported volume represents about 68% of the total fuel
The construction works of Sonangol’s Research and Scientific Development Center in Sumbe are 92 percent complete and are expected to be finished in September, with the installation of laboratory systems set to begin. Sonangol Executive Administrator Joaquim Fernandes was quoted yesterday on the Ngol program, broadcast by the company on Channel A of Radio Nacional de Angola, stating during a visit to the facilities that this progress will enable the integration of technicians assigned to
Environmental issues are increasingly dominating discussions about the energy sector’s future. Climate change, illicit fishing, and pollution pose risks to the MSGBC coastline, which is rich in biodiversity. The PRCM works with governments, civil society actors, and the private sector, including oil companies, to influence decisions, organize training sessions, and promote environmental concerns in the oil and gas industry. Energy Capital & Power spoke with PRCM Executive Director Ahmed Senhoury about the advancements in environmental
Energy Capital & Power (ECP) is proud to announce that Laurent Coche, CEO of Chariot Green Hydrogen, will participate in the third edition of MSGBC Oil, Gas & Power 2023, taking place from November 21-22 in Nouakchott. He will speak about the company’s latest updates in the field of green hydrogen in Mauritania. Chariot Green Hydrogen is currently leading a large-scale green hydrogen project in Mauritania called Project Nour. The project is a collaboration with
The Brent crude oil, which serves as a benchmark for Angolan exports, traded lower on Wednesday 26th July, hovering around $82.80 per barrel. Price falls by 0.40 percent This price represents approximately 0.40 percent below the previous day’s quotes when it had reached highs not seen in several months. For example, Angola, one of the major oil exporters in Africa, along with Nigeria, has set a reference price of $75 per barrel for OGE/2023, which
The President of the Executive Committee of Sonangol’s Trading and Shipping Business Unit, Luís Manuel, stated on Tuesday in Luanda that the country’s oil production has remained stable and without significant declines in recent times, thanks to various ongoing actions. According to the manager, as reported to Lusa, oil production has remained stagnant for quite some time. “A series of actions have been taken to stabilize the declining progress. If you have been following, there
Oil prices remained stable on Tuesday 25th July, hovering around three-month highs, influenced by market developments such as signs of tighter supply and promises from Chinese authorities to strengthen the world’s second-largest economy, alongside lackluster Western economic data. Brent futures remained unchanged at $82.74 per barrel midway through the session, while U.S. crude oil, West Texas Intermediate (WTI), rose 1 cent, or 0.01 percentage point, to $78.75. Crude prices have already recorded four consecutive weekly
The Angola Oil & Gas (AOG) conference and exhibition was officially launched in Luanda by event organizer Energy Capital & Power (ECP) alongside the Ministry of Mineral Resources, Oil and Gas and partners including the National Oil, Gas and Biofuels Agency (ANPG); the Oil Derivatives Regulatory Institute (IRDP); and national oil company Sonangol. The event was attended by key stakeholders from across the public and private sectors as well as media, and served to kickstart
Crude oil prices have rallied over 12 percent this month so far, aiming for the best month since January 2022. On the daily chart, WTI broke above the 200-day moving average, a level not seen since August 2022. This recent surge has been bolstered by a near-term rising trendline from the end of June. WTI crude oil prices rose about 2.8 percent on Monday, marking the strongest 24-hour period since June 13th. If this push
The price of a barrel of Brent crude oil, which serves as a reference for Angolan exports, for delivery in September, ended today in the London futures market with an increase of 2.06%, reaching $82.74. File Brent maintained its upward trend as investors awaited the decisions that the European and US central banks will make this week regarding their respective benchmark interest rates. Analysts are confident in the maintenance of oil demand, even in the
