Angolan Mining Oil & Gas - Page 222 of 390 - Top Angolan News for Oil, Gas and Mining Industries

South Sudan Seeks Investors for New Oil Refinery

31, March, 202431, March, 2024

South Sudan’s national oil company Nilepet is calling on investors to secure funding for the construction of an oil refinery in the country’s Block 5A. According to Director General of Finance, Services and Administration at Nilepet Dr. Matiok Santino Akuei, the project has amassed a total investment of $29 million, with the refinery’s estimated initial costs currently standing at $3 billion. As such, the seventh edition of the nation’s official energy event South Sudan Oil

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International Gas News

Mauritania’s Energy Service Zone Project to Propel Gas Sector and Economic Growth

31, March, 202431, March, 2024

Mauritania is poised to become Africa’s third-largest gas exporter with the imminent production from the Grande Tortue Ahmeyim (GTA) gas field. Major industry players such as bp, Total Energies, and Shell are actively exploring Mauritania’s basin, while the government is prioritizing the full exploitation of the country’s gas potential until 2030. As part of this strategy, Mauritania has launched the Energy Service Zone project in Nouakchott under its Gas Master Plan initiated in 2022. A

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International News Oil Petroleum

UNOC Begins Petroleum Product Sales to Uganda, Tanzania

31, March, 202431, March, 2024

Uganda National Oil Company (UNOC) has begun distributing limited quantities of petroleum products to its subsidiaries in Tanzania and Uganda. Uganda’s fuel distribution network is currently dependent on Kenya, importing roughly $2 billion worth of petroleum per year, for which Kenya Pipeline Company handles at least 90% of the cargoes. As a result, UNOC has signed a five-year supply deal to import fuel directly from energy trader Vitol Bahrain for distribution to consumers. Last November,

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Oil Local Petroleum

China’s CNOOC to Send Team to Angola to Discuss Block 24 Exploration

31, March, 202431, March, 2024

The China National Offshore Oil Corporation (CNOOC) is sending a team of senior executives to Angola to discussion opportunities in oil exploration. According to Angola’s Ministry of Mineral Resources, Petroleum and Gas, “In the coming days, a delegation from CNOOC – led by Liu Yongjie, Chairman of the CNOOC International Limited – is set to travel to Angola to start discussions around Block 24 and other oil exploration opportunities.” Located in the Southern Kwanza Basin,

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International Mining

Nigeria Implements New Guidelines for Mining Licenses to Promote Local Processing

31, March, 202431, March, 2024

Nigeria has announced a significant policy shift concerning mining licenses, stating that new licenses will only be granted to companies that present plans for local mineral processing. This development aims to enhance the value extracted from Nigeria’s solid mineral deposits and aligns with the country’s efforts to boost its economy. According to a government spokesperson cited by Reuters, this change signifies a departure from Nigeria’s historical practice of exporting raw materials. It reflects a broader

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Local News Oil

Sonangol Kulumbimbi Ship Recognized for Environmental Innovation

31, March, 202431, March, 2024

The Sonangol Kulumbimbi ship has been honored in the 2023 edition of “Significant Ships,” an annual publication by the British Royal Institution of Naval Architects. This recognition celebrates vessels over 100 meters long and highlights the ship’s exceptional navigability and environmental conservation efforts. Sonangol, in collaboration with Hyundai Samho Heavy Industries (HSHI), has constructed the Sonangol Kulumbimbi with a strong focus on innovation and environmental responsibility. Measuring 274 meters in length, 48 meters in width,

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International Oil Petroleum

Gasoline prices rise in South Africa

31, March, 202431, March, 2024

The price of gasoline in South Africa will increase in April. Diesel (diesel), however, will see some reduction. The department responsible for the measures attributed the adjustments to the increase in average international prices for gasoline products For this reason, April will be a mixed month for South African motorists in terms of fuel prices, with petrol rising, while the cost of diesel will increase or decrease slightly, depending on whether you live inland or

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Local News Oil Petroleum

Angola Urged to Invest in New Oil Projects to Prevent Shortages

31, March, 202431, March, 2024

Heitor Carvalho, Director of the Economic Research Center at the Lusíada University of Angola (CINVESTEC), emphasized the urgent need for new oil investments to prevent a potential shortage of crude oil by 2033. Speaking during the presentation of the Economic Report for the Third Quarter of 2023 in Huambo, Carvalho warned that Angola faces the risk of oil depletion within the next nine years if proactive measures are not taken to develop new reserves. Carvalho

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Local Energy News Renewable Energy

Cuanza-Norte Positioned as Potential Hub for Green Energy Production

31, March, 202431, March, 2024

Cuanza-Norte Province has emerged as a promising candidate to spearhead a pilot project for green energy production, following a recent business visit by Nigerian investors to Cambambe. The mission expressed keen interest in leveraging the province’s abundant resources for the production of green hydrogen, particularly emphasizing the viability of utilizing ammonia, a key component for fertilizer production, alongside established technologies in Nigeria’s industrial sector. Fifi Ejindu, President of the Angola-Nigeria Business Council, underscored the export

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Local Oil Petroleum

First Angolan Venture Capital Company Launched to Finance national Oil Companies

30, March, 202430, March, 2024

On Wednesday, Luanda witnessed the inauguration of Angola’s inaugural Venture Capital Company, PetroFund, with an impressive fund of $250 million aimed at bolstering projects within the country’s oil and gas industry. Minister of Planning, Victor Hugo Guilherme, hailed PetroFund, SA as a significant milestone, showcasing the private sector’s response to governmental initiatives. Guilherme stressed the importance of supporting and financing local content companies operating in the oil sector, signaling a positive stride towards private sector

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