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Economy Local News Petroleum

Sonangol maintains leadership of the state’s consolidated assets

22, August, 202322, August, 2023

Sonangol continues to lead the ranking of the largest companies in the Public Business Sector (SEP), representing 57 percent of total aggregate assets in 2022, of 26.9 billion kwanzas. The ranking considers the balance sheets of 71 companies in the public sector that provided accounts within the time period determined by the Institute for the Management of Assets and State Participations (IGAPE). According to the data, Sonangol’s assets reached 15.4 billion kwanzas, followed by far by

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International News Petroleum

Mozambique’s Minister Urges Swift Return of TotalEnergies

22, August, 202322, August, 2023

The Mozambican government last week defended the resumption of the natural gas production project by the consortium led by French multinational TotalEnergies “as soon as possible”, pointing out that “the security conditions are in place”. “”There are very clear signs that the security conditions are in place,” said the Minister of Mineral Resources and Energy, Carlos Zacarias, speaking to journalists on the sidelines of the Ministry’s eighth coordinating council, which took place in the city of

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Energy International

Mozambique Nears Deal with Hydrocarbon Tender Winners

22, August, 202322, August, 2023

The Mozambican authorities are finalizing negotiations with the two consortia that won the sixth international tender for hydrocarbon exploration and production, but the contracts have yet to be approved and signed, the government said on last week. “The negotiations are almost over and, at the latest, by the end of this year, the contracts will be presented to the government, so that it can approve them, so that operations can begin,” said the Minister of

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Energy Gas International News

Nigeria, Algeria, and Egypt Set to Lead African Natural Gas Market in Global Energy Shift

22, August, 202322, August, 2023

From 2023 to 2027, Nigeria, Algeria, and Egypt are anticipated to control the African natural gas and liquefied natural gas (LNG) supply market, as the use of fossil fuel becomes unpopular globally. Data from the African Energy Chamber’s August 2023 State of African Energy report support this. The analysis estimates that Africa’s natural gas supply will be at 25.5 billion cubic feet per day (Bcf/d) in 2023, an increase of 1% from 2022. Meanwhile, long-term

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Diamonds Economy Local

Diamond Mining in Angola

22, August, 202322, August, 2023

Diamonds, the coveted gems that have captivated human imagination for centuries, have been central to Angola’s economic and social fabric. Nestled on the southwestern coast of Africa, Angola has emerged as one of the world’s leading diamond producers. This article delves into the intricate world of diamond mining in Angola, highlighting its historical significance, economic impact, environmental concerns, and efforts towards sustainable practices. Historical Significance Angola’s diamond mining history dates back to the late 19th

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Diamonds Mining

The Remarkable Journey of Diamond Formation

22, August, 202322, August, 2023

Diamonds, the dazzling gemstones that have captured human fascination for centuries, are born from the depths of the Earth in a process that spans millions of years. These precious gems hold within them the secrets of immense pressure, heat, and time, resulting in their unparalleled brilliance and enduring allure. The Geological Crucible: Diamonds begin their journey deep within the Earth’s mantle, approximately 90 to 120 miles below the surface. Here, extreme temperatures reach thousands of

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Diamonds Local Mining News

Luaxe mining project enters production phase soon

22, August, 202322, August, 2023

Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, has assured that the Luaxe mining project could soon start its diamond production. Diamantino Azevedo was speaking to the press at the end of another visit to the Luele Mining Company, located in the province of Lunda-Sul. The minister said that the work is taking place within the established schedule, having highlighted the commitment of those responsible for the Luaxe project, whose execution is in the

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Diamonds International News

De Beers to aid employees in evacuation amid wildfires in Canada’s Northwest Territories

21, August, 202321, August, 2023

Anglo American unit De Beers Group said on last week that it was assisting some employees at its Gahcho Kué diamond mine in Canada’s Northwest Territories whose families were residing in the Yellowknife region and were asked to evacuate due to wildfires. Canadian officials ordered the evacuation of the Northwest Territories’ capital of Yellowknife and several smaller communities on Wednesday as a massive wildfire threatened the town of Hay River overnight. “The Gahcho Kué team

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Energy Exploration Gas International Oil

Global O&G Exploration Spending to Hit $50Bn in 2023

21, August, 202321, August, 2023

Global spending on conventional oil and gas exploration will hit over $50 billion in 2023, according to energy research company Rystad Energy. Upstream companies are strategically directing their investments towards offshore projects, focusing on lucrative regions that have a robust geological understanding. Rystad Energy says that up to 95% of the total expenditure in 2023 is allocated to offshore initiatives. “Upstream companies are facing a period of uncertainty. They are eager to capitalize on the increased

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Exploration International News Petroleum

Global Petroleum Gets Greenlight for Next Phase of PEL 94, Offshore Namibia

21, August, 202321, August, 2023

Oil and gas exploration company Global Petroleum has received approval from Namibia’s Ministry of Mines and Energy to proceed with the first renewal period of the offshore Walvis Basin Petroleum Exploration License (PEL) 94 in the southern African country’s Block 2011A. The work commitment for the period will span two years, from September 2023 to September 2025, and will involve the acquisition, processing and interpretation of 2,000km of 3D seismic data carried over from the

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