The Minister of Finance, Vera Daves de Sousa, said this Tuesday morning on the “Café da Manhã” program on LAC radio, that the fuel subsidy costs the Government between US$3 and US$4 billion. According to the minister, these numbers should be analyzed with the importance they deserve, as the social sector would need these values a lot. Vera Daves de Sousa recalled, for example, that the Integrated Plan for Intervention in Municipalities (PIIM) is funded
The national company that distributes oil derivatives, Pumangol, will inaugurate today, starting at 6 pm, the 80th Supply Station of the distribution network, located at Avenida Pedro de Castro Van-Dúnem Loy, Talatona, in Luanda According to a press release sent to Jornal de Angola, the project is one of the company’s main assets and is part of the programs contained in the National Development Plan Based on the National Development Plan (PDN) 2018/2022 and the
Russian oil flows are increasingly moving in an eastern direction, while fuels produced in the East will move in a western direction, Vitol’s chief executive Russell Hardy said at an industry event. “It’s going to go further and longer distances and find different markets, and in doing that it’s going to have to trade at a discount,” Hardy said of Russian oil, as quoted by Reuters. “You’re beginning to see that with fuel coming east that would
The impact of the war in Ukraine is being felt far beyond the European continent. In a bid to cut its dependence on Russian gas, Europe is keen to shore up its energy supply and look for alternative sources. As the war in Ukraine passed its one-year mark, and following the visit of French President Emmanuel Macron and Felipe VI, the King of Spain, Euronews spoke to Angola’s President João Lourenço about the vision of Africa’s second-largest
Construction of the Total Energies gas liquefaction plant in Cabo Delgado, Mozambique, will resume in July. According to the executive director of Saipem (Italian engineering company Saipem), Alessandro Puliti, quoted by the specialized portal for the oil sector Upstream, the restart of the project will be done gradually from July this year. Alessandro Puliti was speaking during an internet intervention (“webcast”) held last week to present the results for the fourth quarter of 2022 to
The National Petroleum, Gas and Biofuels Agency (ANPG) and Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of Chevron, announced this Monday 6th March the start of oil production at the Lifua-A project, forecast to produce 6,500 barrels. per day. According to an ANPG press release, the Lifua-A platform, in Block 0, is interconnected with existing facilities in the Takula area and is expected to produce a total of 6,500 barrels of oil per day
The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in May ended yesterday 6th March, on the London futures market up 0.41%, to US$86.20. Brent prices regained ground in the latter part of the session, after falling earlier in the day, in reaction to the release of worse-than-expected economic forecasts for China. However, global tensions related to the supply of oil plus the expectation and improvement
Vivo Energy, a major pan-African retailer and distributor of fuels and lubricants, and Engen, which boasts around 1,300 service stations across the continent, have combined their respective African businesses to create one of the largest energy distribution companies in Africa The new group will have more than 3,900 service stations and more than two billion litres of storage capacity across 27 African countries. Petronas will sell its 74% shareholding in Engen to Vivo Energy at completion,
The Energy and Water Utilities Regulatory Authority (EWURA) has granted the Construction Approval to the East African Crude Oil Pipeline (EACOP) Ltd to construct the East African Crude Oil Pipeline which will run from Tanga, Tanzania, to Hoima, Uganda Minister for Energy, Hon. January Makamba was present at the handover event, with regional commissioners from eight of the regions where the pipeline will pass through, members of the Parliamentary Energy Committee, members of EWURA Board and Management
Aircraft refueling on Angolan soil is cheaper this March, compared to February, according to the table published by the Regulatory Institute for Petroleum Derivatives (IRDP) of the Ministry of Mineral Resources, Oil and Gas. The reduction was an average of 10 kwanzas for each reference litre, but which represents, overall, a significant saving for operators. According to the same IRDP table, for this month of March, the Adjustment Reference Price – Platts (PRA) is now
