Fuel has become Angola’s most exported product, reaching the mark of 94.9% of exports in 2022. In percentage terms, ores and minerals represented the second most exported product, making up 4.3% in the year in question.The data was released this Wednesday 30th August by the Ministry of Mineral Resources, Oil and Gas, on Facebook, which cites the National Bank of Angola as the source of the 2022 export balance.Equipment and machinery, food, wood and cork,
The Angolan Association of Oil and Gas Services Companies (AECIPA) and the Namibian Association of Offshore Oil and Gas Service Providers (NAOGSP) signed, on Monday August 28th, in Windhoek, an agreement to cooperate in strengthening the oil and gas industries. gas from the two countries. Under the terms of the agreement, AECIPA and NAOGSP will cooperate in several areas, including enhancing economic and commercial benefits for members, sharing industry information, research and development of new
The consultancy firm Business Monitor International (BMI) believes that the outlook for natural gas projects in Mozambique is improving, despite the delay in the resumption of work by the French oil and gas company, TotalEnergies, in the northern province of Cabo Delgado. “The outlook for mega-projects in Mozambique is improving, with progress being made on the resumption of projects. TotalEnergies has taken several steps to restart the project, following the violence in 2021, which forced
The Angolan Debt and Stock Exchange (BODIVA) approved, on Friday 25th August, in Luanda, the requests for a Special Session to be held on the Stock Exchange and for admission to trading of the private Bonds of the Sociedade Nacional de Combustíveis de Angola, EP (SONANGOL). As explained in the statement sent to the newsrooms, the Special Session on the Stock Exchange will take place between 9:00 am and 3:00 pm on September 13th and
According to the Presidency, the cost of compressed natural gas (CNG), a less expensive substitute for premium motor spirit, often known as gasoline, is anticipated to be N250 a liter. The Federal Government and other stakeholders have proposed using compressed natural gas (CNG) as part of their attempts to reduce the cost of public transportation following the loss of fuel subsidies, which increased the cost of the good. This was announced by Ajuri Ngelale, Special
Nigeria’s new oil minister stated last week that the country expects all four oil refineries to be ready by the end of the year, with the southern Port Harcourt facility possibly beginning operations as early as December. The Port Harcourt refinery will begin processing oil by the end of 2022, the government announced last year. However, NNPC Ltd executives and succeeding oil ministers have launched a number of fruitless plans to restart, remodel, or enlarge
The Cairo-based Cheiron Petroleum Corporation announced a new oil discovery in Egypt’s Geisum and Tawila West Concession in the Gulf of Suez, according to a statement by the Ministry of Petroleum and Mineral Resources on Tuesday. The petroleum ministry reported that the discovery was made through the GNN-11 exploratory well, and that three further wells can be drilled in the same area. According to the ministry, the output of crude oil in the Geisum and
A dynamic energy company, the Nigerian National Petroleum Corporation (NNPC), has secured an emergency $3 billion loan from the pan-African financial institution, African Export–Import Bank (Afreximbank), to improve its services across the entire petroleum value chain. The NNPC says the loan – which will be repaid using a limited amount of future crude oil production – will enable the company to settle taxes and royalties in advance while supporting the Nigerian government to stabilize the
The Minister of State for Petroleum and Gas, José Barroso, observed the progress of the construction of the future refinery in Cabinda. During the technical visit to the refinery project, José Barroso received explanations from the Odebrecht representative, Joel Peito, with a focus on phase 1 of the refinery. Joel Peito also presented the ongoing infrastructure and civil works, the 30,000 barrels per day distillation unit, which is considered the heart of the refinery, the
The Pan-African multilateral development financial institution, the Africa Finance Corporation (AFC), will invest $95.25 million in Uganda’s petroleum logistics infrastructure. The investment will be directed towards the oil and gas company Mahathi Infra Uganda. The funds will be used to finance the construction of two self-propelled barges for operation on Lake Victoria. The financing will also support the development of 14 petroleum storage tanks, 20 truck loading bays, a jetty, and a parking lot with
