You are Here

Category: Petroleum

Economy Local News Petroleum

Investors Encouraged to Build Fuel Stations

The stability of the operation of the fuel market and other petroleum derivatives should also be the responsibility of the business class, focusing on providing better services to the population. This perspective was put forward by the Vice Governor of Huambo for the Economic and Social Sector, Angelino Elavoco, at a recent seminar on encouraging the construction of new privately initiated fuel stations and the rehabilitation of out-of-service stations. Angelino Elavoco acknowledged that the enthusiasm

Loading

Read More Here

Local Oil Petroleum

Sonangol and TotalEnergies Partner for Kwanza Basin Offshore Development

Angola’s national oil company, Sonangol, signed a framework agreement with French multinational petroleum corporation TotalEnergies earlier this year to explore developing the first offshore drilling project in the Kwanza basin, an abundant and expansive oil field some 150 kilometers southwest of the country’s capital Luanda. The provisional agreement inked in May between Sonangoal, TotalEnergies EP Angola and Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG), will pave the way for the future development of the

Loading

Read More Here

International Oil Petroleum

Uganda Achieves Self-Sufficiency in Oil Supply

A bill enabling Uganda National Oil Business (Unoc), a state-owned oil business, to buy and supply oil to Uganda’s domestic market has been passed by the country’s cabinet. The bill will terminate the present method of importing oil through Kenyan wholesalers if it is approved by parliament. The goal of this new initiative, according to Energy Minister Ruth Nankabirwa who spoke on the issue on Tuesday, is to “improve the security of supply of petroleum products

Loading

Read More Here

Local News Oil Petroleum

Lobito Refinery Investment Tender Launches, Aims for 200,000 BPD Capacity

The Angolan government is pressing ahead with plans for the Lobito refinery, which will have the capacity to process up to 200,000 barrels of oil per day. The national oil company, Sonangol, recently initiated a public tender for investment in the refinery, marking a significant step in the project’s development. Sonangol has already completed various essential phases of the project, including an economic feasibility study, reevaluation of the feed, dredging of Lobito Bay, embankment preparation,

Loading

Read More Here

Economy Local News Oil Petroleum

Angola to maintain crude oil production at 1.1 million barrels until 2024.

Angola expects to maintain its current production of crude oil at 1.1 million barrels per day (bpd) next year, said Belarmino Chitangueleca, the Chief Executive Officer of the National Agency for Oil, Gas and Biofuels (ANPG), on Thursday. Belarmino Chitangueleca ensured that the country will announce the winning bidders for the last onshore licensing round by March 2024. He also mentioned that Angola will set up a second Natural Gas Liquids (NGL) train, which processes

Loading

Read More Here

Energy Gas Local Oil Petroleum

Azule Energy aims to lift output in Boost to Angola’s turnaround Plans

Angola’s largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said in a boost to the country’s plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni (ENI.MI) and BP (BP.L), was formed last year when the two companies consolidated their Angolan assets. The company plans to drill 16 exploration wells over the next four

Loading

Read More Here

International Oil Petroleum

Uganda Suspends Chinese-Operated Kingfisher Oilfield Over Safety Concerns

The Chinese-operated Kingfisher oilfield in Uganda has hit a major roadblock as the Petroleum Authority Uganda (PAU) has temporarily suspended operations due to safety concerns, as per a report by The East African. This decision follows a tragic accident that occurred on 6 October, raising questions about safety standards in the project. Ernest Rubondo, the executive director of PAU, expressed his dismay over the accident and emphasized that such incidents are unacceptable, especially in light

Loading

Read More Here

Local Oil Petroleum

Saudi Arabia’s Oil Sales in Chinese Currency Raise Concerns Over Impact on Angola’s Exports

The potential move by Saudi Arabia to sell oil to China in Chinese currency is raising concerns about its impact on Angola’s oil exports, warns Daniel Fung Wah-kin, the President of the United Nations Foundation for Peace and Development. He expressed these concerns during a seminar commemorating the 10th anniversary of the ‘One Belt, One Road’ initiative in Hong Kong. Fung explained that in the past, China’s significant oil purchases from Angola were largely due

Loading

Read More Here

Gas Local Oil Petroleum

Angola Initiates Bidding for 12 Oil Blocks in Lower Congo and Kwanza Onshore Basins

The National Oil, Gas, and Biofuels Agency (ANPG) in Angola has officially launched a competitive bidding process for the exploration of 12 oil blocks in the Lower Congo and Kwanza Onshore Basins. The announcement was made by the national concessionaire, ANPG. Interested national and foreign companies have until November 15th to submit their proposals, adhering to the 40-day timeframe stipulated by law. The “Tender 2023” comprises a total of 12 oil blocks. Four of these

Loading

Read More Here

Gas Local News Oil Petroleum

Petronas Acquires 40% Stake in Angola’s Block 20/11 from TotalEnergies

Petronas, the Malaysian energy giant, is set to become a significant player in Angola’s oil and gas sector following its acquisition of a 40% stake in Block 20/11, previously operated by TotalEnergies. The transaction, valued at approximately $400 million, was successfully completed, as confirmed by the National Agency for Petroleum, Gas and Biofuels (ANG). TotalEnergies EP Angola officially sold its 40% share in Block 20/11, located in the Kwanza Basin, to Petronas Angola E&P LTD

Loading

Read More Here

1 … 26 27 28 29 30 … 45