The country’s oil production reached a total volume of 29.561 million barrels (MMBBLS) in the month of March, an average of 0.954 million barrels per day (MBPD), representing a decline of 0.7 percent compared to the month of February, which was recorded and a production of 29,781 MMBBLS. According to the monthly report, published by the national consulting company for oil, gas and renewable energies, PetroAngola, throughout the month of March, the Dália field, located
The acquisition of 1.2 million metric tons of oil derivatives for sale cost US$803 million in the first quarter of this year, a 3 percent increase over the previous period. Of the quantity purchased for sale, around 48.2 percent corresponds to diesel, 35.3 to gasoline, 9.4 to fuel ordoil, 5.5 to Jet A1, 1.3 to illuminating oil and the remaining 0.2 of asphalt bitumen. Still of the acquisitions made, according to a summary presented on
Nigeria, the largest oil producer in Africa, has come out on top as the leading crude oil producer on the continent, according to the latest monthly report from the Organisation of Petroleum Exporting Countries (OPEC). The report indicates that Nigeria produced 1.268 million barrels per day (bpd) in March 2023, surpassing its African peers, Algeria and Angola, which produced one million and 972,000 bpd, respectively. However, the report also sheds light on Nigeria’s struggle to
Companies such as Sonangol, the National Electricity Distribution Company (ENDE) and the National Petroleum, Gas and Biofuels Agency (ANPG) are identified as fundamental to the country’s economic growth, acting as actors for the increase in the Gross Domestic Product, in the creation of jobs and essential services to citizens. According to the platform for investment in the energy sector on the continent, the unprecedented growth that the country has been experiencing in the energy sector,
Namibia’s Jonker-1X light oil discovery – made last month by partners Shell, QatarEnergy and the National Petroleum Corporation of Namibia (NAMCOR) – represents the third discovery in a string of Orange Basin exploration successes announced in the past year. Coupled with the Graff-1X and Venus-1X finds (made in 2022 merely weeks apart), leading International Oil Companies (IOCs) are proving the size and scope of Namibia’s deepwater hydrocarbon resources. As such, Namibia’s E&P sector is expected to attract
Following three successful editions that united a strong slate of players from across the regional and global energy landscape, the Angola Oil & Gas (AOG) conference and exhibition makes its return in 2023 for its fourth edition, bringing together African energy and petroleum ministers, global investors and thought-leaders and project developers and service companies to discuss the future of Angolan energy. Building on the event’s long-standing partnership with Angola’s Ministry of Mineral Resources, Oil and Gas and
Negotiations of Brent, the benchmark for Angolan oil exports, for delivery in June, opened lower on Wednesday 19th April in the international market, positioning at US$80.82 per barrel, a drop of 0.10 percent. In previous barrel trading, Crude Oil was likely to find support at $79.91 and resistance at $83.44. The Dollar Futures Index, which tracks the performance of the US dollar against a basket of six major currencies, gained 0.02 percent to trade at
COUNTED AMONG THE COUNTRIES OF THE CONTINENT WITH AN OIL POTENTIAL CAPABLE OF REVOLUTIONIZING ITS ENTIRE ECONOMIC SECTOR, THE DEMOCRATIC REPUBLIC OF CONGO (DRC) STILL DOES NOT ATTRACT GREAT BENEFITS FROM THIS SECTOR. According to the Extractive Industries Transparency Initiative (EITI) report, between 2020 and 2021, the DRC’s oil sector brought in only USD 364.6 million to the public treasury. A modest sum that does not reflect the oil potential of the country estimated at more
The Democratic Republic of Congo and Angola have been collaborating for several years to achieve the monetization of a maritime area of common interest, considered rich in hydrocarbons. The Congolese Minister of Hydrocarbons, Didier Budimbu Ntubuanga, announced on April 13, 2023 that a production sharing agreement is being negotiated. It engages the DRC, Angola and Chevron, the American oil company. The DRC and Angola share Block 14c, an oil perimeter known as of common interest located
The Federal Government of Nigeria stated on Thursday 13th April that N13 trillion was spent on petrol subsidies between 2005 and 2021. It also stated that N16.3 trillion was lost to oil theft from 2009 to 2020. At a policy dialogue on oil swap that was co-hosted by the Nigeria Extractive Industries Transparency Initiative and Policy Alert, an indigenous civil society organization, with assistance from the Opening Extractives, it was revealed in Abuja. Orji Ogbonnaya-Orji,
