S&P Global Downgrades Botswana’s Sovereign Ratings Amid Diamond Market Weakness
Nigeria Seeks to Strengthen Its Position in Global Oil and Gas Supply
Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field
De Beers Board Member Matome Tsholetsa Malema Passes Away
Sodiam Raises $25.8 Million in 16th Rough Diamond Auction
Shell Reaffirms Commitment to Reviving Angola’s Oil Production
Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port
Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection
Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium
Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions
Angola is gearing up for a significant boost in drilling activity in 2024, with plans to spud 43 wells, reflecting a 16% increase compared to the previous year. The country has set ambitious targets for a near-term production surge to reach 1.2 million barrels per day, and this will be facilitated by the expansion of the well pipeline, contributing to an overall increase in output. The planned drilling activities for 2024 mark a noteworthy advancement,
The French supermajor, TotalEnergies, has initiated production at the Akpo West Field offshore Nigeria. The field has been seamlessly integrated with the pre-existing Akpo Floating Production, Storage, and Offloading (FPSO) vessel, which exhibited a production rate of approximately 124,000 barrels per day (bpd) in 2023. This achievement marks a significant milestone, enhancing the production capacity at the Akpo Field by an additional 14,000 bpd. Furthermore, it is expected to contribute up to four million cubic
The Association of Companies Providing Services in the Angolan Oil Industry (AECIPA) is holding a workshop today at the Higher Polytechnic Institute of Technologies and Sciences (ISPTEC) in Luanda. The workshop aims to analyze the changes in the New General Labour Law (NLGT) in the petroleum sector. According to the statement, the event, titled “New General Labour Law, What Has Changed,” will address some of the key issues of major relevance in the amendments to
Angola and Botswana convened their respective ministerial delegations yesterday Wednesday 7th February, in Cape Town, South Africa, to discuss cooperation in the mineral resources sector. The ministers, Diamantino Pedro Azevedo from Angola and Lefoko Moagi from Botswana, explored the possibility of future bilateral meetings. During the meeting, the focus was on the foundational aspects of bilateral cooperation between Botswana and Angola, emphasizing the development of the extractive industry and the potential for strengthening relations in
The oil operator ACREP launched, on Tuesday 6th February, in Luanda, the offer to sell 37.47 percent of its shares on the Debt and Securities Exchange of Angola (BODIVA). The shares will be available for acquisition from February 19 to March 1 of this year. The offer will be sold at a unit price ranging between 75,000 kwanza as the minimum value and 91,500 kwanza as the maximum value. It is the first time that
The Geological Institute of Angola (IGEO) signed two cooperation agreements in the field of geological research on Tuesday in Cape Town, South Africa. On the sidelines of the Angolan Mining Business Forum, agreements were reached with the Bureau de Recherches Géologiques et Minières de France (BRGM) and the Council for Geoscience of South Africa. The signatories included José Manuel, CEO of IGEO, Christophe Poinssot representing BRGM and Mosa Mabuza representing the Council for Geoscience, according
The Trafigura and Kamoa-Kakula signed an agreement on Wednesday in South Africa to transport minerals for a minimum period of six years through LAR – Atlantic Lobito Corridor, the company that manages the Lobito Corridor operation. According to a statement sent to the editorial team, the terms of this agreement, the clauses of which are confidential, were signed during the Mining Indaba in Cape Town, South Africa. These mark the first long-term commercial commitments with
Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, urged mining sector companies to invest in Angola during the 30th edition of Mining INDABA-2024 in Cape Town, South Africa. Azevedo extended an invitation to business leaders to explore Angola’s numerous opportunities, robust infrastructure, and comprehensive geological data available for investors. The minister’s call was part of a forum titled “Angola: Mining Potential and Business Opportunities for Investors,” which attracted over 500 participants, as reported by
The Diamond Subsector has contributed approximately $235.8 million to social responsibility projects from 2017 to the first half of 2023, revealed Sidónio Borges, Head of the Information Technologies and Marketing Department at Fundação Brilhante, during a workshop on social responsibility actions in Luanda. Of this total, $112.8 million has been allocated to completed projects, while $123.04 million is earmarked for ongoing initiatives. Leading contributors to these efforts include Sociedade Mineira de Catoca, Sodiam, Endiama, and
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, asked, last week for greater dynamism from the new executive administrator of Sonangol’s Board of Directors to achieve Sonangol’s objectives in increasing prospecting and research for more resources. By delegation of powers from the President of the Republic when inaugurating the new executive administrator of the Board of Directors of Sonangol, Belarmino Chitangueleca, appointed on Wednesday, Diamantino Azevedo requested greater commitment to the execution of
