Angolan Mining Oil & Gas - Page 231 of 390 - Top Angolan News for Oil, Gas and Mining Industries

Oil International News

BW Energy Commences Production at Hibiscus South Well in Offshore Gabon

15, March, 202415, March, 2024

Oil and gas company BW Energy has initiated production at the DHBSM-1H well, situated in the Hibiscus South Field on the Dussafu license offshore Gabon, just five months after its discovery. Currently yielding between 5,000 and 6,000 barrels of oil per day (bpd), the well is projected to recover approximately 6.6 million barrels from a total oil in place of around 22 million barrels. John Hamilton, CEO of Panoro Energy, a partner in the Dussafu

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Diamonds International News

Lucara Diamond Corp Reveals Karowe Underground Expansion Feasibility Study Results

15, March, 202415, March, 2024

Canada-based Lucara Diamond Corp has released the findings of an updated feasibility study on the Karowe Underground Expansion Project (UGP), outlining an estimated preproduction capital cost of $683 million. Situated in north-central Botswana, the Karowe UGP is anticipated to yield $1.1 billion in cash flow, prolong the Karowe mine’s lifespan by 15 years, and recover 6.8 million carats over its operational duration. Karowe, known for producing four diamonds weighing over 1,000 carats each from its

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Diamonds International News

De Beers rough Diamond sales increase to US$430m

15, March, 202415, March, 2024

De Beers Group reported that rough diamond sales increased from US$374 million in the last cycle to US$430 million in the second 2024 sales cycle. The Group released the provisional rough diamond sales figure quoted for Cycle 2 on Wednesday.According to De Beers, the figures represent the expected sales value for the period and remain subject to adjustment based on final completed sales. De Beers Group CEO Al Cook said it was pleasing to see

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International Oil Petroleum

Namibia’s Petroleum Commissioner Aims to Boost Oil Exploration Investments

15, March, 202415, March, 2024

Namibia’s Petroleum Commissioner, Maggy Shino, outlined the country’s strategy for the coming years, emphasizing the drive for increased investment in exploration activities and the utilization of technological advancements to enhance data analysis and partnerships. Shino affirmed Namibia’s commitment to maintaining an open licensing regime to attract a diverse range of oil and gas companies to explore the Namibian continental shelf. She highlighted imminent final investment decisions on discoveries by major players like Total Energies, Shell,

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Local Oil Petroleum

America in Angola: How U.S. Companies are Driving Oil Production

14, March, 202414, March, 2024

With plans to increase oil production to 1.18 million barrels per day (bpd) in 2024, Angola’s burgeoning hydrocarbons sector has created significant opportunities for global players. Boasting nine billion barrels of oil and 11 trillion cubic feet of natural gas, Angola has only just started to unlock the full potential of its resources. The country is primed to benefit from the capital and expertise of U.S. companies and investors, whose presence in the country has

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Local News Oil Petroleum

Etu Energias Launches Lubricant Line in Angola

14, March, 202414, March, 2024

Etu Energias, Angola’s largest private oil company, has inaugurated a lubricant production line in collaboration with Glide Technology, a prominent petroleum product producer in the region. The partners have established a joint venture company to spearhead the development of a state-of-the-art lubricant production facility in Luanda, the capital of Angola. With a production capacity of 1,000 tons per month, the facility is set to commence construction in 2025, requiring an investment of $5 million. Anticipating

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Local News Technology & Innovation

Angola and Estonia Sign Digital Cooperation MoU

14, March, 202414, March, 2024

Angola and Estonia have taken a significant step towards enhancing collaboration in the digital sector by signing a memorandum of understanding (MoU). President João Lourenço and his Estonian counterpart, President Alar Karis, formalized the agreement during President Karis’s official visit to Luanda on March 8. The MoU aims to foster cooperation between the two nations in digital technology, with a focus on knowledge sharing and expertise exchange. Estonian digital entrepreneurs will play a pivotal role

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Local Economy News

IMF defends continued removal of Fuel subsidies this year

14, March, 202414, March, 2024

The International Monetary Fund (IMF) considers that the Government will continue with the gradual removal of fuel subsidies, as long as the process is accompanied by mitigation measures, such as the direct transfer of income to the vulnerable population, in order to offset the effects adverse, declared, this Monday, in Luanda, the resident representative of the financial institution. Victor Lledo added, in the presentation of the Article IV assessment report (from the IMF to member

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Economy Local News

Central bank increases exposure to the Euro

14, March, 202414, March, 2024

The National Bank of Angola (BNA) plans to increase exposure to the Euro, in a decision explained by the return to positive interest rates in the European monetary bloc and geopolitical factors that have led central banks to diversify reserves. “The BNA intends to increase exposure to the Euro, but not necessarily to the detriment of other currencies,” declared the central bank in a statement cited by Reuters. “For a decade, the Euro was in

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Local Gas News Oil

Sonangol Takes Lead in Methane Reduction and Rural Gas Project

14, March, 202414, March, 2024

Sonangol, Africa’s leading oil producer, has made history by becoming the first African company to join the “Aiming For Zero” initiative, spearheaded by the Oil and Gas Climate Initiative (OGCI). This groundbreaking commitment aims to significantly reduce methane emissions from oil and gas facilities, aligning with global climate objectives outlined in the Paris Climate Agreement. With nearly 100 companies onboard, including Sonangol, the initiative strives to achieve near-zero methane emissions by 2030. By joining this

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