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International Oil

Angola, Egypt Strengthen Bilateral Cooperation

26, July, 202226, July, 2022

Angola is pursuing improved cooperation with Egypt as the country looks at strengthening trade and investment within the energy, industry and commercial sub-sectors. Leveraging Egypt’s expertise, particularly within oil, gas, renewable energy and industrial engineering, the southern African country has prioritized foreign investment, intra-African trade and economic diversification. Speaking during the opening of an economic forum between the two countries this month, Angola’s ambassador to Egypt, Nelson Manuel Cosme, emphasized that the country is officially open

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Oil

ANPG spends three million on study to locate abandoned oil blocks in the country

26, July, 202226, July, 2022

Three million dollars is how much the National Agency of Petroleum, Gas and Biofuels (ANPG) will spend on a study aimed at locating abandoned oil blocks in the country. The expenditure was authorized by the Government and is intended to prevent the occurrence of spills, as happened in an abandoned well in Cabinda, which caused damage to the population and the environment. In presidential decree 139-D, cited by Expansão, the Executive states that since the

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Economy International

Five countries dominate foreign investment in the Angolan economy

26, July, 202226, July, 2022

The United States of America, France, Italy, China and the United Kingdom were the countries that, in the first quarter of this year, stood out in terms of the origin of foreign direct investment in the oil sector in Angola, according to the report by the National Bank of Angola. Regarding the non-oil sector, the same source says that South Africa and Belarus stand out. In relation to the balance of direct investment, in the

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Oil

Somoil raises oil production to 17,000 barrels/day

26, July, 202226, July, 2022

Somoil doubled, between 2020 and 2022, oil production from eight to 17 thousand barrels/day, due to the investment applied, in the last two years, in drilling and in new technologies, according to the chairman of the Executive Board. Edson Rodrigues dos Santos said that the Angolan oil company – Somoil, which operates in block 2/05, in shallow waters and in the FS&FST block, in the “Onshore”, in the municipality of Soyo, in the province of

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International

Focus Economics confirms Angola’s growth of 3.2 percent this year

26, July, 202226, July, 2022

The consultancy Focus Economics predicts that the Angolan economy will grow 3.2 percent this year and accelerate to up to 3.6 percent in 2024, also forecasting an expansion below the average of sub-Saharan African countries. “Growth is expected to accelerate significantly this year, in a context in which the easing of restrictions related to the pandemic boosts domestic demand, while the external sector benefits from high raw material prices”, write analysts at Focus Economics. ,

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Energy

Energy transition: country can save 275 million liters of diesel per year

25, July, 202225, July, 2022

According to the Minister of Energy and Water, João Baptista Borges, the replacement of thermal energy by solar energy represents a saving of 275 million liters of diesel per year for the country. The head of the Energy portfolio spoke to the press at the inauguration of the Biópio photovoltaic power plant, in the municipality of Catumbela, in the province of Benguela. The Biópio photovoltaic plant, as well as the Baía Farta plant, inaugurated this

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Diamonds

Angola among the world’s three largest diamond producers

25, July, 202225, July, 2022

The chairman of the Board of Directors of the Angolan National Diamond Company (ENDIAMA EP), Ganga Júnior, expressed his expectations on Friday that, next year, Angola will be among the three largest diamond producers in the world. Ganga Júnior, who made these statements to Jornal de Angola, on the sidelines of the inauguration of the orphanage “Lar Casa Mãe”, in Lubango, expanded and equipped with funding from ENDIAMA, said that it is “very close” to

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International

Angola grows above 3% but below the regional average

25, July, 202225, July, 2022

The consultancy FocusEconomics predicts that Angola’s economy will grow 3.2% this year and accelerate to up to 3.6% in 2024, also forecasting an expansion below the average of sub-Saharan African countries. “Growth is expected to accelerate significantly this year, in a context in which the easing of restrictions related to the pandemic boosts domestic demand, while the external sector benefits from high raw material prices”, write analysts at FocusEconomics, in the monthly analysis of sub-Saharan

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Energy

MCA company participates in the energy matrix modernization program

25, July, 202225, July, 2022

MCA Group is strongly committed to carrying out its strategy of consolidating Angola’s new energy matrix, which will allow the installation of seven photovoltaic parks in six provinces in the south of the country. Through Data consulted Angola indicate that the Portuguese company takes an effective role in promoting green energy and environmental sustainability. of solar resource in Angola, with an average annual global radiation in horizontal plane between 1370 and 2100 kWh/m2. Based on

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International Oil

Oil revenue in Angola rises 71%

25, July, 202225, July, 2022

Oil revenues in Angola rose 71.1% in the first half of the year, compared to the first six months of last year, despite production having increased by just 3.3%, according to consultancy Oxford Economics Africa.\ “Despite historically low levels of oil production, statistics from the Ministry of Finance continue to show a strong improvement in oil revenues, mainly due to higher prices”, write the analysts, noting that revenues reached 4.2 billion kwanzas. , in the

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