Angolan Mining Oil & Gas

Sonangol has sold 49 assets within its group but will only proceed with privatization after resolving the issue of fuel subsidies, according to the state oil company’s financial director. Initially scheduled for this year, the privatization, involving the dispersal of 30% of Sonangol’s capital on the stock exchange, has been postponed until 2026. “There is a very important issue related to subsidies for fuels that needs to be addressed,” Baltazar Miguel told Lusa. The discrepancy

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A consortium of two Mota-Engil companies has won the tender to revitalize the Porto-Amboim Naval Shipyard (Paenal), an infrastructure designed for the oil industry, announced Sonangol. In a statement, the state-owned oil company revealed that four companies participated in the tender for Paenal’s revitalization, which includes implementing a maintenance, repair, and shipbuilding project. Two companies were disqualified for not meeting the requirements. Sonangol deemed the consortium of Mota-Engil, Engenharia e Construção Africa, S.A., and Mota-Engil

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In the second quarter of 2024, Angola imported 1.1 million metric tons of fuel valued at $689 million, reflecting an 8% decline from the previous quarter, according to official data. The Regulatory Institute for Petroleum Derivatives (IRDP) reported that 59.4% of the total volume was diesel, 22.2% gasoline, 12.3% fuel oil, 3.8% Jet-A1, 1.2% asphalt bitumen, and the remainder illuminating oil. The origin of these fuel acquisitions was 35.4% from the Luanda Refinery, 0.8% from

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The Minister of Mineral Resources and Oil, Diamantino Azevedo, acknowledged difficulties in financing refineries but assured that the government remains focused on achieving self-sufficiency in refined products. He emphasized that these projects would be successfully completed. Speaking at the inaugural “Conversas sem Makas,” a forum initiated by journalist and economist Carl Rosado de Carvalho, Minister Azevedo reviewed his tenure since 2017. He highlighted the importance of Angola’s mineral resources, describing them as a “blessing” that

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