Angolan Mining Oil & Gas - Page 304 of 389 - Top Angolan News for Oil, Gas and Mining Industries

Economy International News

Oil Remains Steady as US Ratings Downgrade Countered by Supply Concerns

3, August, 20233, August, 2023

Oil prices remained relatively unchanged on Thursday following a two-day decline, including a sharp drop on Wednesday, as a U.S. government credit downgrade weighed on market sentiment. However, concerns about supply tightness provided some support to the market. Ratings agency Fitch downgraded the main U.S. credit rating, reflecting anticipated fiscal deterioration and a high and growing government debt burden for the world’s biggest oil consumer. Despite the overall bearish sentiment, prices received support from concerns

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Energy Gas International News

Gas to Remain a Significant Energy Source until 2030

3, August, 20233, August, 2023

The Federal Government has said gas will continue to form a major part of the country’s energy mix until 2030. The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, stated this at the Society for Petroleum Engineers Nigeria Council 2023 conference held in Lagos recently. Komolafe said although the FG was still committed to achieving the United Nations’ 2060 zero emission goals, Nigeria would continue to explore its abundant gas resources

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Energy Gas International News Oil

Oman’s PDO Completes Drilling 1,500 Wells at Nimr in Historic Milestone”

3, August, 20233, August, 2023

Petroleum Development Oman (PDO) marked a significant milestone as it celebrated the completion of its 1,500th well at the Nimr cluster, a groundbreaking achievement in the Sultanate of Oman, according to local media reports. The landmark well, known as NM-1500, is part of the expansive Nimr cluster situated in the southern region of PDO’s concession area. Covering a vast expanse of 1,875 square kilometers, Nimr is the company’s largest cluster and encompasses an extensive well

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Energy Gas International News

Saudi Arabia and Kuwait Reiterate Exclusive Ownership of Controversial Durra Gas Field

3, August, 20233, August, 2023

Saudi Arabia and Kuwait reaffirmed on Wednesday that the ownership of natural resources in the divided submerged area in the Arabian Gulf, including the entire Al-Durra gas field, is jointly owned by both countries. The Ministry of Foreign Affairs of Saudi Arabia made an official announcement stating that Saudi Arabia and Kuwait hold exclusive and full sovereign rights to exploit the wealth in that area. In addition to asserting their joint ownership, the two nations

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Energy International News Oil

QatarEnergy to Award EPC Contract for $50 Million Refinery Upgrade

3, August, 20233, August, 2023

QatarEnergy is anticipated to award the engineering, procurement, and construction (EPC) contract for its $50 million upgrade project for eight Refinery Chemical Stores in Mesaieed Industrial City by the fourth quarter of 2023. The EPC contract tender was reportedly issued on July 18, 2023, with the bid submission deadline set for August 13, 2023. It is projected that the contract will be awarded by early November 2023, as reported by Zawya Projects. The scope of

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Diamonds Economy Local News

Lunda-Norte may gain a Diamond Polishing Hub

2, August, 20232, August, 2023

The province of Lunda-Norte may soon gain a Diamond Polishing Hub, according to the Minister of Mineral Resources, Petroleum and Gas. Diamantino Pedro Azevedo mentioned this possibility on Wednesday in Luanda, during the presentation ceremony of the results of the National Geology Plan (PLANAGEO). The minister stated that the Hub aims to strengthen the ongoing activities in the existing polishing units in Lunda-Sul and Luanda.

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Economy Local News Oil

Oil Sector Embraces Equality: Level Playing Field for National and Foreign Companies

2, August, 20232, August, 2023

National oil companies must now compete on an equal footing with foreign companies, complying with all recruitment, training, integration, and local development rules imposed by the Ministry of Mineral Resources, Petroleum, and Gas (MIREMPET). The statement was made by the Secretary of State for Mineral Resources, Jânio Corrêa Victor, during the opening of the celebration of the first program contracts with seven out of 1,540 registered national companies. This event marks the implementation of Presidential

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Diamonds International Mining

Diamond sales at Debswana slump 17% on weak demand

2, August, 20232, August, 2023

The sale of rough diamonds at Botswana’s Debswana Diamond Co fell 17% in the first six months of the year, data released by the central bank showed, amid a weak market underpinned by global macroeconomic uncertainty. Debswana, a joint venture of Botswana and Anglo American Plc’s unit De Beers, sells 75% of its output to De Beers with the balance taken up by state-owned Okavango Diamond Co. Botswana and De Beers in late June agreed

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Economy Local News

Crude oil prices fell yesterday after a month of recovery.

2, August, 20232, August, 2023

In July, investors had bet on the restriction of global supply and an increase in demand in the second half of the year. On August 2, 2023, at 12:30 PM, futures prices for Brent, the benchmark for Angolan oil sales in October, were trading at $84.86 per barrel during the London market session, a decrease of 57 cents from the previous day. Meanwhile, West Texas Intermediate (WTI) dropped to $81.21 per barrel, down 59 cents

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Local News Oil Renewable Energy Technology & Innovation

Angola’s Sonangol Research Center Nears Completion

2, August, 20232, August, 2023

Angola’s National Oil Company (NOC), Sonangol, is nearing the completion of its Research and Development Center, with the construction of the training facility set to be complete by September 2023. To date, construction is 92% complete. Located near the city of Sumbe in Cuanza Sul, the Research and Development Center will provide specialized training for the local Angolan population in key areas such as oil and gas, mineral studies, renewable energies – with a focus

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