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Local News Oil Petroleum

Angola Oil Production Averaged 1.098 M BPD in 2023

23, January, 202423, January, 2024

Angola’s crude oil production was steady throughout 2023, with output averaging 1.098 million barrels per day (bpd). According to the country’s national regulator, the National Oil, Gas and Biofuels Agency (ANPG), output during the period January 2023 to December 2023 equated to 400.72 million bpd, making the country the third largest producer in Africa. While production marginally declined from 2022 levels of 1.16 million bpd, December 2023 showed a slight increase in output, with production

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International Gold News

Mozambique: Mutapa Mining to export 40 kg of Gold per month

23, January, 202423, January, 2024

Mutapa Mining and Processing (MMP), a consortium of Mozambicans and British that has for 18 months been operating three mines in the district of Manica, in the province of the same name, intends from this February to process and export between 35 and 40 kilograms of gold monthly. The projection is the result of prospecting carried out over the last 18 months by the consortium which, in a first phase, invested in the equipment and

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Local News Oil Petroleum

Nine companies selected to operate in the Lower Congo and Kwanza Oil basins

23, January, 202423, January, 2024

The companies and consortiums qualified to operate in the oil blocks of the Lower Congo and Kwanza Onshore Basins are already known from this fiscal year onwards. According to a statement released yesterday Jan 22nd by the National Petroleum, Gas and Biofuels Agency (ANPG), the public tender for the Lower Congo and Kwanza Onshore Basins, open last year to national or foreign entities, resulted in the qualification of companies and constitution of contractor groups. According

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International News Oil Petroleum

150,000 fuel retail outlets set to receive their fuel supply from Dangote

23, January, 202423, January, 2024

About 150,000 fuel stations run by the Independent Petroleum Marketers Association of Nigeria (IPMAN) have been sanctioned to receive fuel supplies from the newly built private Dangote refinery. This was disclosed after a meeting between the officials from the Dangote refinery and executives of IPMAN. Fuel cost after the supply still remains unknown as there has been no full disclosure on the subject. A report from the Punch Newspaper disclosed that executives from the Independent

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Economy Local News Oil

Oil closes the week down at $73.25

22, January, 202422, January, 2024

The prices of oil in the international market closed in decline again this Friday, reaching $73.25 per barrel, a decrease of 0.70 percent, falling 0.95 percent, despite having fluctuated near stability for part of the day. International experts point to the cause as the attacks by Houthi rebels in the Red Sea against cargo ships, the reaction of the United States, tensions with Iran, and the war between Israel and Hamas were not enough to

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Economy Energy Local Mining News

Rio Tinto Secures $5.7 Million Mining License Deal in Angola

22, January, 202422, January, 2024

Angola has officially granted a $5.7 million mining license to the multinational mining corporation Rio Tinto. The formalization of this agreement took place during a signing ceremony attended by key officials from both parties on Wednesday, January 17, in Luanda. The awarded license outlines Rio Tinto’s exploration focus on basic metals, including copper, cobalt, zinc, titanium, and aluminum. This exploration will be conducted within the expansive 9,887 km² Moxico Concession, located in Angola’s Moxico province.

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Local Economy News

Dubai Investments Enters Angola with Mixed-Use Development

19, January, 202419, January, 2024

UAE-based multi-asset investment group, Dubai Investments, has announced plans to develop an integrated residential,commercial and industrial hub in Angola. The project – Dubai Investments Park (DIP) – represents the company’s first in Africa and will be built on 2,000 hectares in the Dande Municipality in Bengo Province. “DIP Angola presents a prime prospect for investors seeking diversification and business expansion within a burgeoning economy that holds immense potential for large-scale industries, providing direct pathways to

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Local Gas News Oil Petroleum

Sonangol Launches International Fuel Supplier Competition for 2024-2025

19, January, 202419, January, 2024

Sonangol announced, in a statement, on Wednesday January 17th, that it had launched an international competition to select fuel suppliers to the country for the period from April 1, 2024 to March 31, 2025. In the document, the company declares that it has launched a limited tender, for which it invited 14 companies, of which some will be selected to conclude contracts to supply gasoline and diesel in the form of on-site delivery. Competitions of

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Economy Gas Local News Oil

Angola Signs 3 Cooperation Agreements with Tanzania

19, January, 202419, January, 2024

Under efforts to strengthen bilateral relations, Angola and Tanzania signed three Memoranda of Understanding (MoU) in Zanzibar on January 16. The agreements include a cooperation MoU related to the oil and gas industry; an MoU for the waiver of visas and passports for diplomatic and professional holders; and a cooperation document in the health sector. In addition to the agreements, the countries agreed to explore new avenues for collaboration in areas such as air travel

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Economy Local News

Private Sector Investments Hit $1.7B Over 5 Years

19, January, 202419, January, 2024

The Angolan economy has attracted $1.7 billion in investments from global private sector entities in the last five years, according to the country’s Private Investment and Export Promotion Agency (AIPEX). Chairman of the Board of Directors of AIPEX, Lello Francisco, disclosed that these investments have materialized into the realization of 211 projects, concentrated primarily in the productive sector encompassing manufacturing, agriculture and trade. The projects initiated as a result of the investments are expected to

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