Angolan Mining Oil & Gas - Page 248 of 390 - Top Angolan News for Oil, Gas and Mining Industries

Diamonds International

Lucara extends repayment schedule on $220m debt package

13, January, 202413, January, 2024

Diamond mining company Lucara Diamond has executed amended documentation related to its senior secured project financing debt package, initially established in July 2021 at a value of $220-million. While the total amount of the facilities remains unchanged, Lucara has extended the repayment profile in accordance with the rebase schedule released on July 17 last year. This adjustment aligns with the company’s aim to continue the development of the Karowe underground expansion project (UGP). The funding

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International Diamonds Exploration Mining

Debswana pumps P13.6 Billion into Jwaneng Underground Exploration Access Development

13, January, 202413, January, 2024

Debswana Diamond Company, the mining joint venture between the Government of the Republic of Botswana and De Beers Group, last week announced that its Board has approved the commencement of the Jwaneng Underground Project’s crucial phase, which is the Exploration Access Development. The Jwaneng Underground Project is implemented in four phases; being, Early Works (which started in 2022); Exploration Access Development, Phase 1 Mining and Phase 2 Mining. The Board’s approval for the second phase

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Local News Petroleum

Sonangol confirms existence of Oil in the Cuanza onshore Basin

12, January, 202416, January, 2024

Sonangol confirmed, on Thursday, the existence of oil in almost the entire thickness of the Cuanza Onshore Basin, after drilling “considered very positive”. In a press release that was released today, the state oil company states that the discovery significantly increases the remaining potential of the Tobias field. “The production capacity of the well will be verified after tests are carried out to be carried out soon”, the note adds. According to the document, the

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Mining Local News

Multinational Rio Tinto to explore base metals in Angola

12, January, 202416, January, 2024

The Angolan Government and the Anglo-Australian multinational Rio Tinto Explotation LTD will sign, next Wednesday, January 17th, a mining investment contract, for the prospecting and exploration of base metals. According to a source from the Ministry of Mineral Resources, Oil and Gas, the project called “Moxico Concession” is located in the province of Moxico, and has an extension of 9,959 square kilometers. Operations in Angola Last year, the Australian multinational Rio Tinto, the second largest

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Oil Local News Petroleum

Minister of State: High price of a barrel of oil “no longer solves our problem”

12, January, 202412, January, 2024

The Minister of State for Economic Coordination, José de Lima Massano, stated, Wednesday, in Luanda, that the country is going through a moment in which it is not enough to just have “the highest price per barrel of oil or more oil production”, considering that “this is no longer what solves our problem”. When speaking at the 11th edition of CaféCIPRA, which is currently taking place under the theme “Impact of private investment in the

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Local News Oil Petroleum

Sonangol confirms additional oil in “Block Kon 11”

12, January, 202412, January, 2024

Sonangol announced, on Thursday 11th January, in a statement, that it had confirmed the prevalence of oil in a second evaluation well in Block 11 of the Kwanza Onshore Basin, called Kon 11, after drilling operations concluded on December 21, 2023. The document indicates that the operations were carried out by the Exploration and Production Business Unit (UNEP), having occurred “at a considerable depth” and that the drilling, considered “very positive”, resulted in the confirmation of

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Diamonds Economy Local News

Endiama Initiates Asset Assessment and Capital Dispersion Strategy for Stock Exchange Debut in 2027

12, January, 202416, January, 2024

The National Diamond Company of Angola (Endiama) is quantifying the assets, heritage and reserves of all companies and concessions linked to the group, with part of the process for the dispersion of its capital on the stock exchange, starting in 2027. The information was provided by the chairman of the company’s Board of Directors, Ganga Júnior, in an interview given to the publication “The Energy Year”, in which he presented an overview of the company’s

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International Exploration Oil Petroleum

TotalEnergies Increases Stakes in Two Blocks Offshore Namibia

12, January, 202412, January, 2024

TotalEnergies has inked an agreement to increase its participation in two offshore Namibian exploration licenses. The French multinational is set to acquire an additional 10.5% participating interest in Block 2913B – home to the Venus discovery – and a further 9.39% stake in Block 2912 from Impact Oil and Gas, pending approval from Namibian regulators and joint venture partners. If approved, the deal would boost TotalEnergies’ stakes to 45.25% and 42.5%, respectively. Upon completion of

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International News Oil Petroleum

Galp Makes Light Oil Discovery at Namibia’s Mopane-1X Well

12, January, 202412, January, 2024

Portuguese multinational energy corporation Galp – alongside project partners the National Petroleum Corporation of Namibia (NAMCOR) and energy company Custos – has announced the discovery of light oil at the Mopane-1X well in Namibia. Located in Petroleum Exploration License (PEL) 83 in the Orange Basin, the discovery is the sixth in the country since 2022. According to Galp, drilling operations revealed a column of light oil in high quality reservoir-bearing sands. The project partners will

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Local News Transport and Logistics

Port of Lobito Records Improved Ship Movements

12, January, 202412, January, 2024

Angola’s second largest port, the Port of Lobito, has recorded an increase of 7.57% in ship movement since 2022, with 351 ships docked at the port handling 1,332,451 tons of cargo in 2023. Announced by Celso Rosas, Chairman of the Board of Directors of the Port of Lobito, it was highlighted that the port collected revenues of more than $16.6 million in 2023. Despite an increase in ship movements, however, the Port of Lobito recorded

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