Angolan Mining Oil & Gas

The Fund for the Development of Exports in Africa (FEDA), a subsidiary investment of Afreximbank, announced a few days ago its investment in the Cabinda Refinery, which is being constructed by Gemcorp Holdings in partnership with Sonangol. Investment by Afreximbank comes shortly after Gemcorp, Afreximbank and Africa Finance Corporation successfully led the raising of a project financing debt valued at $335 million in July of this year. According to a statement from FEDA accessed by

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Sonangol was honored on Tuesday 17th October with the National Petroleum Company of the Year Award during the 2023 African Energy Week (AEW), a gathering of key continental players in the sector that concludes today in Cape Town, South Africa, on the fifth day of the event. On October 19, 2023, in the latest update at 10:06 AM, Sonangol received the National Petroleum Company of the Year Award. Osvaldo Inácio, the Executive Administrator, accepted the

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The Brent futures (which are a reference for Angolan sales) rose by seven cents to $89.50 per barrel at 5:00 PM (Angola time), and the West Texas Intermediate (WTI) from the United States rose by 19 cents to $86.47 per barrel. The Government and the opposition in Venezuela resumed long-suspended negotiations yesterday, a move that President Nicolás Maduro believed would benefit the 2024 elections and could potentially lead Washington to ease sanctions, according to several

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