Angolan Mining Oil & Gas - Page 272 of 390 - Top Angolan News for Oil, Gas and Mining Industries

TotalEnergies Aims for Final Investment Decision (FID) on Matola Terminal in Mozambique by 2024

30, October, 202330, October, 2023

The French multinational integrated energy and petroleum company TotalEnergies expects to make a Final Investment Decision (FID) on the Matola Liquefied Natural Gas (LNG) import terminal, located at the Matola Port in Mozambique, by September 2024. Developed by TotalEnergies in collaboration with industrial gas supplier Gigajoule, Mozambique’s Matola Gas Company, and the country’s National Oil Company, Empresa Nacional de Hidrocarbonetos, the $550 million terminal will receive natural gas from a permanently-moored Floating Storage and Regasification

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Energy International News

Algeria Engages in Discussions to Supply Germany with Green Hydrogen

30, October, 202330, October, 2023

Algeria is currently in talks with Germany to become a major supplier of green hydrogen to Europe’s largest economy. With plans underway to upgrade its pipeline connections to reach a wider swath of the continent, the North African country is poised to cover up to 10% of European demand for green hydrogen. The discussions between Algeria and Germany, which took place in Algiers on October 23, focused on converting and extending existing natural gas pipelines

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Gas International News

Gas Supplies to Egypt Disrupted

30, October, 202330, October, 2023

Egypt’s natural gas imports have ground to a halt, in a development that reflects the impact of the Gaza conflict on the North African nation and could dash hopes of a resumption of exports to Europe. The cabinet, explaining the reasons for the expansion of power cuts that have roiled the country for months, said that natural gas imports have fallen from 800mcf/d to zero at a time when warmer-than-usual temperatures led to an increase

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Economy News

Capital Economics Forecasts Angola’s Economic Growth at 1.5% for the Current Year

30, October, 202330, October, 2023

The consulting firm Capital Economics believes that Angola’s economy will grow by 1.5% this year and enter a recession next year, contracting by 0.5% due to the effects of low oil production and the depreciation of the kwanza. Angola’s economy will slow down due to the combination of low oil production and the effects of the recent fall of the kwanza in 2024 and 2025,” write the analysts, as quoted by Lusa, in a commentary

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Local News

Aebran Addresses the Oil Production Chain

30, October, 202330, October, 2023

The 130 participants praised the initiative to present the country’s production chain and identify opportunities for local companies to become involved in the project called “Conexão Aebran.” During the event held on Thursday night, in addition to the welcoming remarks from Raimundo Lima, the President of Aebran – the Association of Brazilian Entrepreneurs and Executives in Angola, the event featured speeches by Diogo Gomes, the Commercial Director of the TD Hotels Group, who discussed the

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Economy Local News Oil

Oil Prices Recover in the Global Market Three Weeks After the Decline

30, October, 202330, October, 2023

Despite the Middle East tensions, oil prices have risen in the market. The Brent crude oil for December delivery fell by 1.8 percent to trade at $88.49 per barrel at 2:00 PM ET in Friday’s intraday session, while the December WTI contract also dropped by a similar margin to change hands at $83.88 per barrel. Brent has now fallen by 7 percent in the past week, while WTI fell by 4.8 percent over the same

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Economy International News

ENI FLNG Bolsters Mozambique’s Economy with 6.5% GDP Surge

27, October, 202327, October, 2023

The natural gas operations by the Coral Sul floating platform off the coast of the northern Mozambican province of Cabo Delgado, over the last year, have contributed 6.5 percent to the increase in the Gross Domestic Product (GDP). The figure was announced by the representative of the Italian energy company ENI in Mozambique, Giorgio Vicini, who was speaking at a meeting on the challenges of the gas and electricity sectors. The Coral Sul floating LNG

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Diamonds Economy International News

DRC’S HISTORIC BAKWANGA DIAMOND MINER SEEKS FRESH CAPITAL FOR RECOVERY

27, October, 202327, October, 2023

The MIBA, or Bakwanga diamond mining company In the Democratic Republic of Congo, has long been a cornerstone of the country’s economy. After several years of stagnation, it gradually recommenced operations in 2011. However, today, its business is no longer as lucrative as it once was. The company’s recovery plan, estimated at USD 453 million, is set to be implemented over five years, accompanied by an investment plan of USD 161 million to be executed

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Gas Local News

Malanje Province Offers Support and Subsidized Credit to Fuel Station Investors

27, October, 20239, November, 2023

António Feijó, who spoke on Tuesday 27th October, during the opening of the first seminar to promote the construction and rehabilitation of new fuel stations, stated that candidates interested in investing in the sector will receive support from the banking institutions based in the province of Malanje, through subsidized credit, as well as from companies with the capacity to build these mentioned facilities. According to the official, the province of Malanje has 25 fuel stations,

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Economy Local News Oil

Sonangol and CNCEC Finalize Lobito Refinery Agreement

27, October, 202327, October, 2023

Angola’s National Oil Company (NOC) Sonangol and the construction and engineering company, the China National Chemical Engineering Company (CNCEC), have signed a contract for the construction of the $6 billion Lobito refinery in the southern African country. The final agreement, which was signed on 24 October in the city of Lobito, Benguela Province, provides for the construction, technical support, and supervision of the construction process for the 200,000 barrel-per-day (bpd) refinery. “The processing capacities of

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