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
As Angola celebrated the 37th anniversary of Mining Labor Day this year, strategic developments across its mining sector are positioning the country as a globally competitive mineral producer While Angola takes the place as the third-largest oil producer in Africa – with production measured at 1.14 million barrels per day in 2021 – the country has also recently made headway in mineral wealth extraction. In 2022, the Ministry of Mineral Resources, Oil and Gas is
Angola’s National Agency of Petroleum, Gas and Biofuels (ANPG), along with French oil and gas supermajor, TotalEnergies, and its partners have made a Final Investment Decision (FID) of $850 million for the launch of the CLOV Phase 3 Project in Block 17, offshore Angola. The investment is expected to increase production while reducing operating costs through the standardization of subsea equipment, innovative engineering, and contractual structures. Situated approximately 150km off the Angolan coast in the
Oil Field Calculator is an Angolan company offering customized solutions to project costs for energy and industrial projects. Energy Capital & Power spoke to Silverstre Lombo, CEO of Oil Field Calculator to understand the firm’s technology and services and the impact it has on the Angolan energy sector. Oilfield Calculator is an Angolan company established to produce cost estimations for the oil and gas industry since 2017. Please tell us more about the inception of your
