Historically, oil and gas projects have been known to experience delays ranging from 5% to 20% of the project duration due to project complexity, significant capital requirements, and the multi-faceted nature of developments. In 2023, oil and gas projects across Africa are experiencing even further delays, a trend detailed in the African Energy Chamber’s (AEC) recent market-focused report, The State of African Energy Q1, 2023 Outlook. The report paints a revealing picture of the challenges
The Ministry of Mineral Resources, Petroleum, and Gas encourages oil companies operating in the country to develop strategic measures to address oil spills. To achieve this goal, it is recommended that the regulations outlined in the National Contingency Plan for Oil Spills be adhered to in order to prevent harm to the environment. During a press statement at the conclusion of the ExxonMobil-sponsored Regional Exercise on Level Three Oil Spill Response, which was attended by
The executive president of the distributor of fuels and other oil derivatives Pumangol, Ivanilson Machado, declared that, despite the current circumstances of difficult balancing of the economic balance due to the difficulties inherent in subsidizing fuel prices, due to the delay in liberalizing prices, the company remains committed to developing its sustained growth strategy. Evanilson Machado made these statements on the sidelines of the inauguration of the company’s 80th filling station, in Luanda, at the
A barrel of Brent oil, a reference to Angolan exports, was traded yesterday until around 5 pm in Angola, at the price of US$78.29.Until that moment, the price represented an appreciation of 2.19 dollars, equivalent to 2.88 percent when compared to 76.1 dollars the day before. As can be seen from the indicators on the Investing.com platform, Monday’s trading peaked at $78.58. Over the past few days, oil prices have been steadily easing on fears
US oil company ExxonMobil is expected to leave Equatorial Guinea in 2026, after reducing production at the Zafiro well to 15,000 barrels per day. “We are currently evaluating the best way to leave, in close collaboration with the Ministry of Mines and Hydrocarbons”, confirmed a spokeswoman for ExxonMobil, after news from the specialized press that reported the complete exit from the country. ExxonMobil reduced production in the Zafiro field from 45,000 to 15,000 barrels of
OPEC Member Countries and Non-OPEC Crude Oil Producers (OPEC+) decided to reduce oil production by two million barrels per day, considering that the measure had “a positive impact on the market, as it allowed to counter the decline market prices”. In a statement to the press on the latest production readjustment sent, this Wednesday, to Jornal de Angola Online by the Ministry of Mineral Resources, Oil and Gas, it is read that in a period
Luanda hosts, next Monday, the third meeting of Executives of National Oil Companies (NOC) from member countries of the Organization of African Oil Producers (APPO). The meeting, which is organized by the national oil company Sonangol, with the support of the Ministry of Mineral Resources, Oil and Gas (Mirempet), will discuss and exchange experiences on implementation, policies and production of local content in the oil sector. The National Oil Companies of APPO member countries will
PetroAngola has started the public voting process to determine the winners of the 2022 edition of the Angola Oil & Gas Awards. Around 100 companies operating in the Angolan oil and gas industry are eligible for this edition, from operating companies, companies providing goods, services and professionals in the sector. The award will be based on the companies’ operational and commercial performance, quality and service delivery capacity, and the contributions made to this important sector
AEW 2022 will emphasize the role state energy companies play in boosting investment, exploration and production across Africa’s energy sector. The African Energy Chamber (AEC) is proud to announce the return of the National Oil Company (NOC) Summit at Africa’s premier event for the oil and gas sector, African Energy Week (AEW) (https://AECWeek.com/), which will take place from 18 – 21 October 2022, in Cape Town. Following a successful edition of the NOC Summit at
The leading fuel retailer will participate as a Bronze Sponsor of Angola Oil & Gas 2022, as the country spearheads the progressive expansion and liberalization of its downstream sector Energy Capital & Power (ECP) (EnergyCapitalPower.com) is honored to announce Pumangol – Angola’s leading fuel retailer – as a Bronze Sponsor of the upcoming Angola Oil & Gas (AOG) (https://bit.ly/3UyBCpP) 2022 Conference & Exhibition, taking place on November 29 – December 1 in Luanda. We are
