Angola is, for the month of October, with a quota of 1.52 million barrels/day, the sixth largest of a total of 10 member countries and the ninth if considering the targets set for a group of 20 OPEC producers and not -Opec, a group called OPEC+, which is led by Russia and Saudi Arabia. According to yesterday’s announcement by the Organization of Petroleum Exporting Countries (OPEC), in view of the current fundamentals of the oil
The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in November ended this Tuesday on the London futures market down 3.04%, to US$92.83. Fears of a decrease in demand for oil, following a global economic slowdown, weighed on Brent trading. This scenario offset the upward momentum registered on Monday and motivated by the decision of the Organization of Petroleum Producing Countries (OPEC), led by Saudi Arabia
The Australian company Lucapa Diamond Company announced this Monday that it had discovered a 160-carat diamond in the same block from which it extracted the “Rosa do Lulo”, the 170-carat diamond discovered at the time in early August, having been considered the largest of this hue, found in 300 years. The new diamond, white, with superior quality of type IIa, is the 28th with more than 100 carats to be extracted from the Lulo Mine
Sonangol, a company that operates along the oil value chain, managed, last year, to maximize the gains resulting from the increase in the prices of crude oil and derivatives observed with the recovery from the effects of the Covid-19 pandemic, thanks to the adoption of a cost reduction policy, especially at the height of the Covid-19 pandemic, in 2020 and 2021. This statement was made by Sonangol EP’s Director of Planning, Edson Pongolola, in an
Gazprom, Russia’s state-owned energy company, announced on Friday the complete stoppage of supplies through the Nord Stream 1 pipeline, due to an oil leak in the Trent 60 gas compressor at Portovaya station. Nord Stream 1, which links Russia to Germany, had already had its supply suspended since Thursday, due to alleged maintenance, but now, Gazprom has cut it and does not advance any forecast for the restoration of gas supply by Nord Stream 1.
Brent, the reference oil for Angolan exports, fell by more than 5 percent this Tuesday, penalized by a new confinement in China and by growing fears of a global recession. At 3 pm, a barrel of North Sea Brent for delivery in October was down 5.05 percent to $99.78 and a barrel of North American WTI oil, for delivery in the same month, lost 4.84 percent to 92.31 dollars. On the supply side, concerns appear
The price of oil closed higher last Friday, the 26th, with Brent (the benchmark for Angolan exports) rising by 1.65 dollars, closing at 100.99 dollars a barrel. US WTI crude oil futures rose 54 cents to trade at $93.06 a barrel. For the week, Brent gained 4.4 percent, while WTI rose 2.5 percent. The rally was driven by signals from Saudi Arabia that the Organization of the Petroleum Exporting Countries (OPEC) could cut output, but
OPEC oil production rose in August to its highest level since the early days of the pandemic in 2020 as operations in Libya recover, according to Reuters. The Organization of the Petroleum Exporting Countries (OPEC) produced 29.58 million barrels per day (bpd) in August, up 690,000 bpd from July and the highest level since April 2020, according to Reuters polls. OPEC and allies, a group known as OPEC+, are backing out of production cuts adopted
As of today, the 5th, the petrol stations at 1º de Maio and Rio Seco, in Luanda, will be temporarily closed for rehabilitation work. According to a note from Sonangol’s Distribution and Marketing Business Unit, as an alternative, customers will have at their disposal the filling stations at the Airport (Cassenda district), São Cristóvão (Maculusso), Atlético (Neves Bendinha), Rádio Nacional de Angola (Alvalade), Eucalyptus (Nelito Soares).
In line with the mining operations in the provinces of Lundas Norte and Sul, we were able to witness the complexity of all the engineering work, developed with alluvial diamond deposits in mind, which became more valued from 2018 onwards, with the implementation of a new commercialization model, which eliminated the so-called “preferred customers”. The first stop was at N’zaji, municipality of Cambulo, base of operations of SMC (Sociedade Mineira do Chitotolo), since 1986, with
