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Local News Oil

Angola exports 94.41 million barrels of oil in the first quarter

27, April, 202427, April, 2024

During the 1st quarter of this year, Angola exported around 94.41 million barrels of crude oil, valued at approximately US$7.77 billion, with an average price of US$83.161 per barrel. The data was announced this Wednesday, 25.04, during the presentation of the behavior of the Angolan oil and gas industry for the 1st quarter of 2024 and projection for the 2nd quarter. As in previous quarters, China was the main destination for Angolan oil (49.65%), followed

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Local Diamonds Mining News

Mining sector controls 558 concession titles

27, April, 202427, April, 2024

Yesterday in Luanda, Mankenda Ambroise, a consultant to the Minister of Mineral Resources, Oil and Gas (MIREMPET), delivered key insights at the 3rd Mining Business Forum in Angola, themed “Innovation and Sustainability: Towards Industry Transformation Minas Gerais.” The forum, scheduled to conclude today, serves as a platform to address challenges and opportunities in Angola’s mining sector. Ambroise, speaking on behalf of Minister Diamantino Azevedo, highlighted the ongoing efforts to diversify mineral production in Angola and

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Local Energy Gas News Oil

Angola’s Energy Sector Thrives Despite Global Challenges

27, April, 202427, April, 2024

Angola’s energy sector continues to demonstrate resilience and potential, as highlighted by recent reports from the Ministry of Mineral Resources, Oil and Gas (MIREMPET). In the first quarter of 2024, the country exported a significant volume of Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), and condensates, totaling 966,394 metric tons, generating revenue of $393.6 million. While these figures represent a slight decrease compared to the previous quarter, they underscore the ongoing strength of Angola’s

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Local Economy News Transport and Logistics

USAID Invests $5 Million in Women’s Projects Along the Lobito Corridor

26, April, 202426, April, 2024

The United States Agency for International Development (USAID) has announced a $5 million investment in projects benefiting women along the Lobito Corridor, aiming to uplift communities and combat poverty. Samantha Power, the administrator of USAID, visited Benguela and Lobito to underscore the impact of ongoing programs in the region, particularly in agriculture, which are expected to alleviate hunger and poverty for thousands of people. She highlighted the expansion of the Women in Angolan Agriculture (WAF)

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Local Economy News

BODIVA moves 1.19 billion kwanzas in the first three months

26, April, 202426, April, 2024

The Angolan Debt and Stock Exchange (BODIVA) registered, in the first quarter of 2024, 1.19 billion kwanzas in negotiations, in a bilateral and multilateral environment, according to the institution’s Dashboard. Data from Bodiva’s Monthly Report indicate that the Reporting Operations Market (MOR) registered greater movement, with a volume of 1.03 billion kwanzas. The value negotiated in the first three months of this year was above that recorded in the same period of 2023, which was

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International Oil Renewable Energy

COTTCO Embarks on $3.5 Million Investment for Solar Power and Oil Processing Facilities

26, April, 202426, April, 2024

The Cotton Company of Zimbabwe (COTTCO) is set to enhance its operational efficiency and revenue generation through a $3.5 million investment in the development of an oil expression plant and a solar power facility. Scheduled for completion by Q4 – 2024, the 1.2 MW solar power facility in Muzarabani aims to strengthen energy security for COTTCO’s cotton processing operations. Meanwhile, a $1.5 million investment will fund the construction of an oil processing facility in Gokwe,

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International News Oil Petroleum

Niger and Mali Forge Diesel Supply Pact for Energy Security

26, April, 202426, April, 2024

Niger and Mali have entered into a landmark agreement aimed at bolstering Mali’s energy security through the provision of affordable diesel. Under the deal, Niger will supply 150 million liters of diesel to Mali’s state energy firm, Énergie du Mali, at a significant discount. The agreement underscores Niger’s commitment to supporting Mali’s energy needs and ensuring stable and reliable electricity production, which is crucial for Mali’s socio-economic development. This partnership is part of broader efforts

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International Gas Gold Mining Projects News

Invictus Energy Partners with Himoinsa and Dallaglio for Gas-to-Power Project in Zimbabwe

26, April, 202426, April, 2024

Invictus Energy, an independent upstream oil and gas company, has inked a Memorandum of Understanding (MoU) with Himoinsa Southern Africa Proprietary Limited and Dallaglio Investments Pvt Ltd. The agreement aims to develop a gas-to-power project to supply electricity to the Eureka Gold Mine in Zimbabwe. Under the partnership, Invictus Energy will provide feedstock from its Cabora Bassa Project to fuel a proposed 12MW gas-to-power plant, which will be constructed by Himoinsa. The electricity generated from

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International Exploration News Oil

Rhino Resources Awards Halliburton Contract for Offshore Namibia Project

26, April, 202426, April, 2024

Exploration firm Rhino Resources has awarded a contract to energy services company Halliburton for its deep-water multi-well construction project offshore Namibia, announced during the Namibia International Energy Conference (NIEC) 2024. Halliburton will provide solutions for the construction of exploration and appraisal wells in Block 2914A starting from Q4 – 2024. Additionally, Rhino Resources will utilize Halliburton’s well and prospect testing services as part of the contract. According to Travis Smithard, CEO of Rhino Resources, the

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Diamonds International News

BHP Makes $38.8 Billion Bid for Anglo American

26, April, 202426, April, 2024

BHP with a market valuation of $149B made a $38.8B bid for Anglo American. Anglo’s shares jumped 12% early yesterday to a market valuation of $41B following the bid. In a statement Anglo American confirmed that “it is has received an unsolicited, non-binding and highly conditional combination proposal from BHP Group Limited (“BHP”).” And that “there can be no certainty that any offer will be made nor as to the terms on which any such

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