Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump
Ghana Loses US$100 Million Annually Due to Gas Flaring
Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves
BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon
Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity
Lucapa Diamond Reports Strong Q1 Performance Despite Local Challenges
Africa Oil’s Marula-1X Well Comes Up Dry, but Data to Guide Future Exploration in Namibia
NAMCOR and Subsea7 Forge Strategic Partnership to Advance Namibia’s Offshore Energy Development
Angola Maintains Salary Commitments Despite Falling Oil Prices, Says Finance Minister
De Beers Partners with Stuller to Boost U.S. Rollout of DiamondProof Verification Device
Botswana Cuts Spending and Revises Budget Deficit Amid Ongoing Diamond Market Slump
Ghana Loses US$100 Million Annually Due to Gas Flaring
Ghana Expands Gold Purchase Program with Nine More Mining Companies to Bolster Reserves
BW Energy Confirms Significant Oil Discovery at Bourdon Prospect Offshore Gabon
Morocco Launches LNG Terminal Project to Support Energy Transition and Regional Connectivity
Lucapa Diamond Reports Strong Q1 Performance Despite Local Challenges
Africa Oil’s Marula-1X Well Comes Up Dry, but Data to Guide Future Exploration in Namibia
NAMCOR and Subsea7 Forge Strategic Partnership to Advance Namibia’s Offshore Energy Development
Angola Maintains Salary Commitments Despite Falling Oil Prices, Says Finance Minister
De Beers Partners with Stuller to Boost U.S. Rollout of DiamondProof Verification Device
Canadian oil company MTI Energy begins this year with seismic studies to explore the shared blocks of the Congo and Kwanza onshore basins, tendered by the National Agency of Petroleum, Gas and Biofuels (ANPG) With a production of 25,000 barrels of oil/day, MTI Energy will explore Block 5, in the Congo basin, where it has a 50 percent share in production. In this basin, the Canadian oil company shares exploration with Prodoil (15 percent), Prodiaman
The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in October ended, this Monday, on the London futures market up 1.77%, to US$96.60. The data on Chinese exports for July, above what analysts had anticipated, boosted investors’ perspectives on the evolution of oil demand. Despite the result of the session having been positive for the price of a barrel during the day, it was evolving by
The final investment decision for the Begónia Development Area, located in the Lower Congo sea basin, about 150 kilometers off the Angolan coast, has already been taken. The information is provided by ANPG, TotalEnergies and the partners in Bloco 17/06. The Begónia reservoir will be developed through five subsea wells (three for production and two for water injection), connected to the floating production, storage and offloading unit FPSO Pazflor, in production since 2011 in Block
Angola, which recently became Africa’s largest oil producer, is seeking to add more value across the commodity exports spectrum by partnering with the Africa Finance Corporation as a shareholder and its 35th member state. With Angola’s natural resources in high demand as Europe seeks alternative sources of fuel and foodstuff in the wake of the Ukraine-Russia crisis, the partnership with AFC will help to drive the nation’s next growth and development phase, said Finance Minister Vera Daves. ”Membership of AFC
The consolidated net income of state-owned oil company Sonangol amounted to 2.1 billion dollars in 2021, the best result in eight years and an increase of 152 percent over the previous year. According to the statement released this Wednesday by Sonangol, on the day it published its 2021 report and accounts, it was “a substantially robust economic and financial result, the result of excellent operational performance” that results from the measures taken, namely cost rationalization,
Demand for critical minerals is increasing “at a galloping way”, without being accompanied by supply, creating a “huge opportunity” for Angola to position itself as an important player in the sector, according to a manager at the Pwc consultancy. Alexandra Moutinho presented this Wednesday the study “Mine 2022”, which focuses on the largest companies in the sector (“Top 40”), describing 2021 as an exceptional year for the industry, in which profits grew 27 percent to
Negotiations for the start-up of the new gas consortium in Angola were closed. According to an announcement by the National Oil, Gas and Biofuels Agency (ANPG) and Eni, the New Gas Consortium (NGC) has closed the Final Investment Decision for the Quiluma and Maboqueiro gas project, whose gas exploration will start in 2026. “The National Oil, Gas and Biofuels Agency, Eni and the partners of the New Gas Consortium (Chevron, Sonangol, BP and Total) inform
Australia’s Lucapa Diamond (ASX: LOM) has recovered a rare 170-carat pink diamond at its prolific Lulo mine, believed to be the largest of its kind found in Angola in the last 300 years. The massive pink stone named the “Lulo Rose” will be sold later this year through an international tender conducted by Angolan state-owned diamond trading firm Sodiam. Lucapa has a 40% stake in the Lulo mine, which hosts the world’s highest dollar-per-carat alluvial diamonds. The rest is
Angola raised 11.8 billion dollars in the second quarter of this year, with the export of 103.6 million barrels of crude oil, 75.5 percent more than in the same period in 2021, according to official data. The data are contained in the Balance of Exports of Crude Oil and Natural Gas for the second quarter of 2022 presented this Tuesday by the Ministry of Mineral Resources, Oil and Gas. In the period in question, the
Angola pocketed 1.1 billion dollars in the second quarter of this year, with the export of one million metric tons of gas, 6.63 percent less compared to the same quarter of 2021, according to official data. According to the Balance of Crude Oil and Natural Gas Exports for the second quarter of 2022, presented this Tuesday by the Ministry of Mineral Resources, Oil and Gas, gas exports in the second quarter of this year represented
