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Economy Local News Oil

Oil Prices Have Stabilized in the International Market

19, October, 202319, October, 2023

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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Diamonds International News

Rio launches exlusive Diamond tender

19, October, 202319, October, 2023

Major Rio Tinto has launched a new exclusive sales event for some of the diamonds recovered from its Australian and Canadian mines. Known as The Beyond Rare tender, the inaugural collection showcases 48 lots of exceptional polished diamonds, including legacy inventory of pink and red diamonds from the Argyle diamond mine and yellow diamonds from Rio Tinto’s Diavik diamond mine. “The Beyond Rare tender is a new chapter for Rio Tinto’s diamonds business, and a

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Energy Gas Local Oil Petroleum

Azule Energy aims to lift output in Boost to Angola’s turnaround Plans

18, October, 202318, October, 2023

Angola’s largest private oil and gas company Azule Energy plans to raise production by around 14% to 250,000 barrels per day (bpd) by 2026, its CEO said in a boost to the country’s plans to turn around flagging output. Azule Energy, a 50/50 joint venture between Eni (ENI.MI) and BP (BP.L), was formed last year when the two companies consolidated their Angolan assets. The company plans to drill 16 exploration wells over the next four

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Economy Gold International News

Mali’s Industrial Gold Production Expected to Surpass Forecasted Levels

17, October, 202317, October, 2023

The industrial gold production in Mali, one of Africa’s top producers of the precious metal, is expected to reach or even exceed its forecast of 67.7 tonnes for 2023, according to a mines ministry official. Gold production from mines, mainly owned by Barrick Gold, B2Gold, Resolute Mining, Allied Gold, and Endeavour Mining, stood at 45.4 tonnes at the end of August, surpassing the initial forecast of 43 tonnes, Mamadou Sidibe, head of the mines ministry’s

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Economy International News Oil

Economic Relief on the Horizon: Prospects for Fuel Price Reduction in November

17, October, 202317, October, 2023

As the global economy continues to navigate through the challenges posed by the ongoing COVID-19 pandemic and the evolving energy landscape, there’s a glimmer of hope for consumers around the world. In recent weeks, speculation has been rife that fuel prices might experience a much-anticipated cut in November. Based on the current oil, international fuel and rand prices, the latest data from the Central Energy Fund (CEF) shows that petrol prices could be cut by

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Energy International News

Sasol, Anglo American Platinum, and BMW Collaborate to Trial Hydrogen-Powered Vehicles in South Africa

17, October, 202317, October, 2023

Anglo American Platinum, BMW Group South Africa (BMW SA), and Sasol have partnered to prove that a hydrogen mobility ecosystem can operate successfully within South Africa. The three companies inked an agreement on Monday at the 2023 South African Green Hydrogen Summit in Cape Town that will bring hydrogen fuel cell electric vehicles (FCEVs) and supporting hydrogen refueling technology to South Africa. In terms of the agreement, BMW will provide the FCEVs a test fleet

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Diamonds International Mining News

Zimbabwe Emerges as a Top 7 Global Diamond Producer

17, October, 202318, October, 2023

Zimbabwe, a country known for its rich mineral resources, has once again made its mark on the global stage by ranking as the 7th largest diamond producer in the world. This remarkable achievement underscores the significant role that Zimbabwe plays in the global diamond industry and the potential for economic growth and development in the region. In this article, we will explore the factors that have contributed to Zimbabwe’s rise in the ranks of diamond

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International Oil Petroleum

Uganda Suspends Chinese-Operated Kingfisher Oilfield Over Safety Concerns

16, October, 202316, October, 2023

The Chinese-operated Kingfisher oilfield in Uganda has hit a major roadblock as the Petroleum Authority Uganda (PAU) has temporarily suspended operations due to safety concerns, as per a report by The East African. This decision follows a tragic accident that occurred on 6 October, raising questions about safety standards in the project. Ernest Rubondo, the executive director of PAU, expressed his dismay over the accident and emphasized that such incidents are unacceptable, especially in light

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Energy Local News

Sonangol’s Prominent Presence Shines at African Energy Week

16, October, 202316, October, 2023

Sonangol begins its participation in this year’s African Energy Week (AEW) today, where it is presenting a communication dedicated to the company’s actions in the areas of optimizing the business model after the regeneration process and the energy transition. In a statement sent to the Jornal de Angola on Sunday, Sonangol stated that at the event, which runs until Friday, it is represented by a delegation led by Executive Administrator Osvaldo Inácio. This delegation includes

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Economy Local News Oil

Sonangol Wins Best Exhibition Award

16, October, 202316, October, 2023

Sonangol won the Best International Exhibition Award at the Global Expo Botswana 2023 on Friday 13th. The trophy was presented to the stand director, Emanuel Chindecasse, at a ceremony held in Gaborone, Botswana. On October 14, 2023, the Angolan Ambassador, Beatriz Morais, was seen with the Sonangol delegation after the trophy presentation. The Angolan oil company was recognized for its outstanding performance in showcasing products and services, communication and image, as well as the business

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