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Sonangol opens tender for Exploration of Paenal

15, December, 202315, December, 2023

Sonangol announced, yesterday 14th December, the opening of a Public Tender for the concession of the exploration of PAENAL, a shipyard for the manufacture and integration of facilities for the oil and gas industry, located in Porto Amboim, Cuanza-Sul. In a statement, the company which holds a shareholding in PAENAL, indicated that the exploration concession is part of a restructuring strategy aimed at expanding the company’s activity, encompassing the repair, maintenance, manufacture of vessels and

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Local Mining News

Mining Sector improves rules to ensure Investor Confidence

15, December, 202315, December, 2023

The Secretary of State for Oil and Gas, José Barroso, highlighted, on Wednesday, in Luanda, the role of Compliance in improving the business environment in the extractive sector. José Barroso, who spoke at the opening of the II Forum on Compliance, considered that integrity and compliance constitute an essential tool to guarantee the confidence of investors and society in general and for consolidation of an increasingly transparent, attractive and robust industry. “Compliance is a commitment made

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Local Gas News

Sonangol Reception and Distribution Unit opened in Soyo

15, December, 202315, December, 2023

The second phase of Sonangol’s Gas Reception and Distribution Unit (URDG), called “Falcão Phase 2”, which will process 50 million cubic feet of gas/day, came into operation this Thursday December 14th, in the municipality of Soyo, in the province of Zaire. The inauguration ceremony was presided over by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, witnessed by the governor of Zaire, Adriano Mendes de Carvalho, and the PCA of Sonangol, Gaspar Martins,

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Local Gas Oil

Minister of Oil and Gas Unveils Falcão Project’s Second Phase Inauguration

15, December, 202315, December, 2023

Minister Diamantino Pedro Azevedo underscored the significance of Sonangol’s “Falcão 2” Gas Reception and Distribution Unit (URDG) in Soyo, Zaire, marking a crucial stride toward completing the ammonia and urea factory, pivotal components of fertilizer production. Addressing the inauguration of the facility that will process and manage 50 million cubic feet of gas daily, supplied by Angola LNG to fuel the Soyo I Combined Cycle power plant, Minister Azevedo urged the Sonangol and Opaya consortium—tasked

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Oil Economy International

BRICS: Russia & South Africa Ditch US Dollar in $265M Oil Deal

15, December, 202315, December, 2023

In a continuation of the bloc’s overarching de-dollarization efforts, BRICS members Russia and South Africa had ditched the US Dollar in a landmark $265 oil deal. Indeed, reports have stated that the former tabbed Russian bank, Gazprombank as the preferred investor for the massive gas refinery contract. Although the specific currency utilized in the agreement has not been specified, the bank’s placement under US sanctions denotes its likelihood in local currencies. Moreover, the alliance has sought greater

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Local Gas News

Sonangol Advances Natural Gas Use for National Development

15, December, 202315, December, 2023

Gaspar Martins, Sonangol’s Board Chairman, lauded the Falcão 2 project as a commitment to Angola’s development agenda, emphasizing the strategic use of natural gas for clean energy and raw material in petrochemical endeavors. He underscored the project’s role in fostering an energy transition by curbing gas burning and reducing greenhouse gas emissions. Martins highlighted Falcão 2’s significant contribution, providing 75 million cubic feet of gas to the upcoming “Amofert” fertilizer factory, set to produce 1.2

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International Gas Oil

Indonesia’s Pertamina terminates LNG purchase Contract with Mozambique LNG

15, December, 202315, December, 2023

The Indonesian state oil company Pertamina has cancelled its 20-year contract to purchase liquid natural gas (LNG) from Mozambique LNG, a TotalEnergies led project, suspended since 2021 due to the terrorist attacks in Cabo Delgado. According to the Argus website, which specialises in energy matters, an agreement signed in 2019 provided for the export to Indonesia of one million mtpa (million tons per year) of natural gas over 20 years. “There is no [penalty], because

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Energy Local News

Standard Bank finances Azule Energy workers

14, December, 202314, December, 2023

Standard Bank of Angola (SBA) and Azule Energy, a consortium that brings together the Angolan assets of the Italian Eni and the British BP in the Energy sector, announced that they had signed, on Monday 11th December , a protocol for the allocation of a set of benefits for the energy company’s staff, with a focus on housing credit. The president of the Board of Directors of the SBA, Luís Teles, indicated in a note

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International

DR Congo signs carbon credit deal covering Congo basin

13, December, 202313, December, 2023

The Democratic Republic of Congo has signed an agreement with a US company for a carbon credit deal covering the Congo Basin rainforest and peatlands. The dClimate company will help DR Congo to preserve the basin by reducing deforestation. The deal is aimed at preserving more than 100 million tonnes of carbon dioxide in the forest. In recent years, environmentalists have raised alarm over the depletion of thousands of acres in the Congo basin through

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International Gas News

Top 5 Gas Flaring Reduction Projects to Watch in Libya

12, December, 202312, December, 2023

Libya’s National Oil Corporation (NOC) has been vocal about its intent to decarbonize energy sector activities. Emphasizing the reduction of gas flaring, the country aims to achieve net-zero emissions by 2030, supported by several initiatives led by Libya’s leading operators. By creating economic pathways to gas monetization, particularly for marginal fields in which gas flaring is a common practice, producers can capture more value from their resources, while eliminating a significant source of greenhouse gas

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