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Oil International

OPEC+ confirms increase in production of 648 thousand barrels of oil per day in August

5, July, 20225, July, 2022

The Organization of Petroleum Exporting Countries and its allies (OPEC+), led by Saudi Arabia and Russia, confirmed this Thursday that it will increase oil supplies by 648,000 barrels of crude oil per day (bpd) to a total of 43.85 million barrels bdp in August.The 31st OPEC and non-OPEC Ministerial Meeting is scheduled for 3 August.Angola is a member of OPEC and its production quota has increased from 1,450 to 1,502 million barrels per day for

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Economy Governance Taxation

Tax authorities tighten coercive collection of taxes owed by Tecmad

5, July, 20225, July, 2022

Tecmad – Mining Services will have to pay a debt of Kz 248.5 million in taxes, Kz 62.5 million in fines and Kz 69.9 million in compensatory interest, making a total debt of Kz 382.0 million. The General Tax Administration (AGT) notified, through a notice published in the June 14 edition of Jornal de Angola, Tecmad – Mining Services to collect a tax debt of 382.0 billion Kz referring to taxes on income from work

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Gold Local Mining

Around 58% of gold production projects are stopped

5, July, 20225, July, 2022

12 projects were licensed for the production and export of gold, but only 5 started. At a time when the 1st stone was laid for the construction of a refinery. Seven of the 12 projects licensed for the production and export of gold in Angola have not started activity, reveal data from the Ministry of Mineral Resources, Oil and Gas (MIREMPET) released at the time of laying the foundation stone for the construction of the first

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Mining Local

Biggest Mines in Angola by Production

5, July, 20225, July, 2022

Angola represents one of the richest mineral markets in the world, with sizeable gold, diamond, iron ore and rare earth minerals leading to the development of large-scale mining operations across key basins. At the forefront of the country’s mineral wealth is the diamond sector, with the $1.2 billion industry positioning Angola as the fourth largest producer globally and the second largest in Africa. Now, with ambitions to further diversify the economy on the back of

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Energy Renewable Energy

Conference analyzes energy in Angola today

5, July, 20225, July, 2022

The Lusophone Association of Renewable Energy (ALER) today, in Luanda, presents the national report at the International Conference on Renewable Energy in Angola, a meeting scheduled to end tomorrow. The event is organized by ALER and the Angola-na Association of Renewable Energy (ASAER), in partnership with the Ministry of Energy and Water, taking place at the António Agostinho Neto Memorial with the participation of 300 institutional and business representatives as well as experts. linked to the

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Energy Economy International

Afreximbank, African Petroleum Producers Organization (APPO) Launch African Energy Bank in Angola

5, July, 20225, July, 2022

In response to the coordinated withdrawal of international trade and project financing from Africa’s oil and gas industry, Afreximbank and APPO have signed an agreement for the creation of an African Energy Transition Bank The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organization (APPO), who have had a long, mutually beneficial relationship, have signed an agreement for the joint establishment of an African Energy Bank (www.EnergyChamber.org) at the 8th African Petroleum Congress and Exhibition

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International Energy

Sonangol wants to produce green hydrogen by 2024

4, July, 20224, July, 2022

State oil company Sonangol has signed a memorandum of understanding with German companies Gauff and Conjucta for the production of green hydrogen, starting in 2024. According to a press release from Sonangol, the agreement follows technical and economic feasibility studies, previously carried out, for the financing, construction and operation of a plant for the production of green hydrogen and derived products, in Angola. The objective is to commercialize the product on the local and international

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International Energy

Government collected more than 900 million dollars in taxes in 2021 with the Angola LNG project

4, July, 20224, July, 2022

Last year, the Government collected more than 900 million dollars in taxes with the Angola LNG (Liquefied Natural Gas) project, the Secretary of State for Oil and Gas said this Thursday. José Barroso, who was speaking in parliament during the presentation of the bill authorizing the President of the Republic to legislate on changes to the tax regime for the Angola LNG project, said that the State is concerned with guaranteeing income in the process

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International Oil

Angola is one of the African oil exporters least affected by the war in Ukraine

4, July, 20224, July, 2022

Angola is expected to have a less severe impact when compared to its African partners due to increased oil revenues; more stable production and high oil prices have resulted in a flow of petrodollars during the last year, which has strengthened the rate of exchange rate of the kwanza and improved the opinion on the sovereign credit of the country”, write the analysts of Oxford Economics. In the comment on the impact of the war

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