The French fossil-fuel giant TotalEnergies’ planned oil pipeline in East Africa will exacerbate the global climate crisis, Human Rights Watch said in a report. The 47-page report, Our Trust is Broken”: Loss of Land and Livelihoods for Oil Development in Uganda, documents the land acquisition process for one of the largest fossil fuel infrastructure projects under construction anywhere in the world. The report is based primarily on over 90 interviews that Human Rights Watch conducted in
Angola’s recent shift to renewable resources is a bold, future-oriented vision, marking an important turning point in the nation’s economic trajectory. This strategic reorientation, led by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, represents a commitment to a sustainable and resilient economy, capable of adapting to the challenges of the 21st century. Historically, Angola has been heavily dependent on oil, with export revenues from the product in 2012 representing an impressive 97%
The oil and gas industry is the most important engine of industrial growth and economic activity in Angola. However, the National Development Plan 2023–2027 addresses how the country plans to reduce oil revenue dependency to no more than 20% by diversifying the economy and investing in other sectors with growth potential, such as agriculture, infrastructure, mining, green hydrogen, and renewable energy. Infrastructure Recent investments in Angola’s infrastructure have substantially improved, with large infrastructure repairs, expansions,
Subsea engineering and applied technology company Oceaneering International, through its Offshore Projects Group segment, has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project in Block 17, offshore Angola. The scope of work will include the provision of air and saturation diving services, project management, engineering and procurement activities and will be done to support the prime contractor’s recovery and replacement of 12 risers. Oceaneering will also provide Angolan personnel
Within five days, Sonangol Pesquisa&Produção begins exploring for oil and gas in the Tubias well, in the Kwanza Terrestrial Basin block (KON-11), located in the municipality of Cabo Ledo, Luanda province. At this moment, the rig still needs to complete five percent of the technical work, in order to move forward with oil and gas drilling activity in the Tubias well, of which 95% has already been completed. The well is between 700 and 800
Angola’s oil export level will rise to 1.18 million barrels per day in October, reaching the highest value since July, reported financial information agency Bloomberg. According to Bloomberg, which cites the final cargo manifest, Angola will export 1.18 million barrels of oil in October, increasing compared to the 1.047 million daily barrels forecast for this month. For October, the final program foresees 38 cargoes with a combined volume of 36.52 million barrels of oil, given
Petrobras, a Brazilian state-owned oil company, decided to end the divestment processes at the Urucu, Bahia Terra and Campo de Manati hubs. The order, which also involves Petrobras Operaciones SA (a subsidiary of the state-owned company in Argentina), was communicated on 4th September and takes into consideration “the strategic adherence to the portfolio, as well as the profitability profile”, according to Carta Capital, citing the company. The decision tends to impact Petrobras’ Exploration/Production and Gas/Energy
Guinea-Bissau represents both a unique and highly strategic investment opportunity. As a relatively undeveloped energy market, the country is positioned in close proximity to large-scale oil and gas developments in neighboring Senegal and Mauritania. High-impact regional discoveries made in recent years have emphasized the potential of offshore acreage while untapped domestic renewable energy resources coupled with favorable investment terms highlight the attractiveness of investing in Guinea-Bissau. Untapped Mineral Reserves Guinea-Bissau is believed to have approximately
Qatari-based diversified business conglomerate Power International Holding is exploring a partnership opportunity with Algerian National Oil Company Sonatrach for the development of a petrochemical facility in Algeria. The facility will produce raw materials such as butene and polybutene. A delegation from Power International Holding is expected to visit Algeria to discuss the partnership in early September 2023. Mohammed Arkab, Minister of Energy in Algeria, stated that, “Sonatrach is ready to work with Power International to achieve that project, which
Block 15, an Angolan offshore, operated by ExxonMobil (Esso Angola), located approximately 370 kilometers northwest of Luanda, completed 29 years since the beginning of its exploration on August 23, 1994, and currently employs around 1,000 workers . According to PetroAngola’s website, Block 15, once Angola’s largest oil producer, recently achieved a daily production peak exceeding 600 KBPD, thanks to its four FPSOs: Kizomba A, Kizomba B, Mondo, and Saxi-Batuque. Construction of the initial FPSO, Kizomba
