Angolan Mining Oil & Gas - Page 198 of 390 - Top Angolan News for Oil, Gas and Mining Industries

International

Masen Launches Tender for Nassim Nord Wind Farm Complex in Morocco

14, May, 202414, May, 2024

The Moroccan Agency for Sustainable Energy (Masen) has announced a tender for the construction of the Nassim Nord wind farm complex, marking a significant step forward in Morocco’s renewable energy expansion efforts. Aligned with Morocco’s ambitious renewable energy targets, which aim for renewables to make up at least 52% of the electricity mix by 2030, the Nassim Nord project is part of the country’s broader strategy. This strategy includes flagship projects like Noor Midelt, integrating

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International News Oil

Chevron Initiates Sale of Nigerian Offshore Oil and Gas Blocks to Focus on U.S. Expansion

14, May, 202414, May, 2024

Chevron, the U.S. energy giant, has launched the sale of its interests in two Nigerian offshore oil and gas blocks as part of its strategy to divest aging assets and prioritize its growing U.S. production. The company is offering its 40 percent stakes in Oil Mining Lease (OML) 86 and OML 88, located in shallow-water areas, with current production levels at around 6,200 barrels of oil equivalent per day. The move reflects a broader trend

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International News Oil

Nigeria Boosts Oil Production with New Niger Delta Field

14, May, 202414, May, 2024

Nigeria has launched oil production from a new field in the Niger Delta, aiming to increase its crude output by 40,000 barrels per day (bpd) by the end of May. This development marks a significant step for Africa’s leading oil producer in meeting domestic energy needs and driving economic growth. The upstream subsidiary of the Nigerian National Petroleum Corporation (NNPC), NNPC Exploration and Production Limited, along with Natural Oilfield Services Ltd (NOSL), a subsidiary of

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International News Oil

AGOCO Successfully Reactivates Nine Wells in As Sidra Oil Field

14, May, 202414, May, 2024

The Arabian Gulf Oil Company (AGOCO) has successfully reactivated nine wells in the As Sidra Oil Field, significantly boosting production. According to the National Oil Corporation (NOC), this achievement is expected to add approximately 4,000 barrels of crude oil per day to the field’s output. The NOC detailed the technical repairs in a statement released on Sunday. These included fixing faults in the high-pressure electricity network that supplies four wells (C-178, C-221A, C-227, and C-242)

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International News

88 Energy to Launch 200-Line-Kilometer Seismic Survey in Namibia’s Owambo Basin

14, May, 202414, May, 2024

88 Energy plans to initiate a 200-line-kilometer 2D seismic survey in Namibia’s Owambo Basin mid-year. This new survey aims to refine prospective closures within its expansive 18,500-square-kilometer claim under Petroleum Exploration Licence 93 (PEL 93), which borders Angola, a prominent oil-producing nation. The initiative is supported by existing 2D seismic data and soil gas sampling, which validate the presence of hydrocarbon-producing source rocks. The company anticipates that the new seismic data could lead to drilling

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Local News Oil

Brent Oil Price Surge Enhances Angola’s Economic Outlook

14, May, 202414, May, 2024

The price of Brent crude oil, a key reference for Angolan exports, increased by over 0.60% on Monday, starting the week on a positive note in the commodity markets. Brent crude averaged $83 per barrel, significantly higher than Angola’s 2024 budget reference price of $65. This increase, if sustained, could positively impact the country’s revenue from oil exports. Angolan oil specialist website PetroAngola.com and international site Investing.com both report a positive outlook for crude oil

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Oil News

Brent Oil Prices Rise Amid Market Anticipations and Geopolitical Concerns

14, May, 202414, May, 2024

The price of a barrel of Brent oil, a benchmark for Angolan exports, rose by 0.69% to $83.36 for July delivery on the London futures market today. This increase is driven by investor expectations ahead of the upcoming monthly report from the Organization of Petroleum Exporting Countries (OPEC), set to be released on today. Additionally, market sentiment is influenced by U.S. price variation figures and potential geopolitical tensions, including a possible large-scale Israeli offensive in

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Local Diamonds News

Angola Engages in Kimberley Process Interim Meeting in Dubai

14, May, 202414, May, 2024

Angola is participating in the Interim Meeting of the Kimberley Process, which started yesterday in Dubai, United Arab Emirates. Running until May 17, the meeting will address proposals for administrative decisions, ongoing reviews, reforms of the Kimberley Process, and rough diamond traceability. A statement highlights that key discussions will focus on the initiation of the Kimberley Process’s permanent secretariat activities. Other critical agenda items include defining “Conflict Diamond,” implementing co-Presidency and co-Vice-Presidency roles in the

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Diamonds International News

Anglo American and De Beers Announce Strategic Split

14, May, 202414, May, 2024

In a significant development this morning, Anglo American and De Beers announced their intention to separate, marking the next evolution in the ownership of De Beers, the world’s leading diamond company. Al Cook, CEO of De Beers Group, expressed his optimism about the future: “De Beers has led the diamond industry for more than a century. We have unparalleled expertise, outstanding assets across more than 20 countries, a unique sales model, and an iconic brand,

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Economy Local News

IMF Mission to Assess Angola’s Debt Repayment Capacity

14, May, 202414, May, 2024

An International Monetary Fund (IMF) mission, led by Assistant Director of the African Department Amadou Sy, is visiting Angola from May 7th to 17th to conduct a Post Financing Assessment (PFA). According to a press release on the Ministry of Finance’s website, the IMF representatives will hold meetings to evaluate Angola’s capacity to repay its existing debt to the Bretton Woods institution and assess potential risks affecting this commitment. The mission’s agenda includes important meetings

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