Angolan Mining Oil & Gas - Page 179 of 390 - Top Angolan News for Oil, Gas and Mining Industries

Diamonds International News

Petra Diamonds CEO Optimistic on De Beers Sale

4, July, 20244, July, 2024

The proposed sale of Anglo American’s 85% stake in De Beers would enhance market visibility and focus, according to Richard Duffy, CEO of Petra Diamonds. Duffy suggested that De Beers, as an independent entity, would invest more in marketing efforts. Anglo American announced on May 14 its intention to sell De Beers as part of a group-wide restructuring, which includes unbundling its shares in Anglo American Platinum. During an investor day, Duffy outlined new life-of-mine

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Oil News

Brent Oil Prices Remain Stable Above $80 Per Barrel

4, July, 20244, July, 2024

In the past seven days, Brent oil has been sold on international markets for between $85 and $86 per barrel. This price stability above $80 has persisted for more than 15 days, following a price of $79.34 per barrel on June 7th. Before June 7th, Brent oil remained around $70 per barrel for four consecutive sessions. Over the past month, the highest price for a barrel of Brent was $86.50, recorded this past week, while

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Local News Oil

Friburge Energies Joins UN Global Compact for Sustainable Business Practices

4, July, 20244, July, 2024

Friburge Energies, an Angolan company providing services in the oil, gas, and mining sectors, has recently joined the United Nations Global Compact, a voluntary leadership platform for the development, implementation, and dissemination of responsible business practices. In a statement, Friburge Energies highlighted that joining the Global Compact reflects their commitment to positive change through environmental protection, good governance practices, and enhanced social responsibility. “This change generates positive results for companies, people, and societies,” the company

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Local Exploration News Oil

ANPG to Begin Oil Exploration Prospecting in Cuando Cubango

4, July, 20244, July, 2024

The National Oil, Gas and Biofuels Agency (ANPG) will soon commence oil exploration prospecting in the municipalities of Rivungo, Calai, and Cuangar in the province of Cuando Cubango. Following a meeting held by the provincial governor of Cuando Cubango, José Martins, ANPG’s director of the Institutional Security Office, Manuel Domingos Dembe, announced that the first phase involves demining work in four areas identified for oil prospecting. Manuel Domingos Dembe stated that ANPG is operating in

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Local Economy News

Angola’s Economy Shows Strong Growth in Q1 2024

4, July, 20244, July, 2024

Angola’s Gross Domestic Product (GDP) grew by 4.6 percent in the first quarter of 2024, marking the highest quarterly growth rate since 2015. This growth reflects positive performance across all sectors of the economy, highlighting the impact of effective economic policies and strategic investments. An analysis of the indicators reveals that all major sectors of the Angolan economy recorded growth during this period, demonstrating a robust and uniform recovery. The oil sector, a traditional pillar

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Local Economy News

National Bank of Angola Sets Ambitious Goals for Financial Inclusion by 2028

3, July, 20243, July, 2024

The National Bank of Angola (BNA) has set ambitious targets for achieving a 75 percent rate of financial inclusion by 2028, as outlined in its latest bimonthly Financial Stability report released in late June. According to the report, the BNA has prioritized several initiatives aimed at bolstering financial inclusion, with microcredit and other non-bank financial instruments playing a pivotal role. Microcredit, governed by current legislation such as Law no. 14/21, is defined as small-value loans

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Diamonds International News

Petra Diamonds Forecasts 22% Production Growth by 2029

3, July, 20243, July, 2024

Petra Diamonds has projected a significant increase in production, aiming for at least a 22% rise by fiscal year 2029, driven by expansions at its Cullinan and Finsch mines. The company announced last week that it expects total output for fiscal 2024, ending June 30, to range between 2.7 million and 2.8 million carats. Looking ahead, Petra anticipates production to reach between 2.8 million and 3.1 million carats next year, with further growth to between

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International News Oil

Dangote Group Chairman Announces Imminent Petrol Launch Amid Market Concerns

3, July, 20243, July, 2024

Aliko Dangote, Chairman of the Dangote Group, has announced that Premium Motor Spirit (PMS), commonly known as petrol, from his refinery will hit the market by the third week of July. While this news is cause for optimism, concerns have been raised among marketers nationwide regarding its potential impact on prices. The anticipated distribution and sale of Dangote’s refined petrol mark a significant milestone since the commissioning of the Dangote refinery in May 2023. As

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International Exploration News Oil

TotalEnergies SE Shifts Focus from South Africa to Namibia for Oil Exploration

3, July, 20243, July, 2024

TotalEnergies SE is reportedly planning to withdraw from its gas-condensate discoveries off the coast of South Africa to redirect its exploration efforts closer to Namibia, according to sources familiar with the matter. The French energy giant ventured into South Africa’s challenging offshore conditions, investing approximately $400 million to uncover an estimated 1 billion barrels equivalent of light liquid hydrocarbons at the Brulpadda field in 2019, as reported by Bloomberg. Subsequently, TotalEnergies achieved another successful find

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International News Renewable Energy

Nigeria Accelerates Hydrogen Development with FOSSREA Partnership

3, July, 20243, July, 2024

The Federal Government of Nigeria has entered into a significant agreement with the Foundation for Sustainable Social Responsibility in Emerging Africa (FOSSREA) to advance hydrogen development initiatives. Mrs. Oluwakemi Ogunmakinwa, Deputy Director of Press and Public Relations in the Ministry of Petroleum Resources, emphasized in a statement that the agreement marks a pivotal moment in Nigeria’s commitment to hydrogen as the future fuel. She quoted Permanent Secretary Ambassador Nicholas Agbo Ella, who highlighted the strategic

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