Libya’s Arabian Gulf Oil Company Launches Production at Z-13 Well in Al-Bayda Field
De Beers Board Member Matome Tsholetsa Malema Passes Away
Sodiam Raises $25.8 Million in 16th Rough Diamond Auction
Shell Reaffirms Commitment to Reviving Angola’s Oil Production
Sonangol Oil Tanker Damaged by Explosion Near Iraqi Port
Angola and Namibia Advance Energy Cooperation with Focus on Electricity Interconnection
Oil Hits Multi-Year High as Iran Conflict Escalates, Boosting Vegoils and Aluminium
Ghana Prepares Alternative Gold Export Routes Amid Dubai Flight Disruptions
Global Oil Prices Surge Amid Rising Tensions in the Middle East
Middle East Tensions Send Oil Prices Higher, Raising Inflation Risks for Africa
The Brent crude oil barrel, which is a reference for Angolan exports, starts the week with a price of 80.88 dollars, the same value at which it closed in the previous trading sessions. Experiencing an increase of 1.25 dollars (1.57 percent) compared to the previous closing price, the Brent crude oil, during the period from June 23rd to July 21st, recorded an average price of 77.28 dollars. The highest price reached was 81.75 dollars, while
The Lulo Diamond Mine (Angola) delivered 15,367 carats of diamonds in the first half of 2023, up 18% year-on-year. The announcement is made by Australian Lucapa Diamond. The source indicates that sales also increased by 37% compared to the corresponding period in 2022, reaching 14,337 carats. Revenue from these sales also increased 47% year-on-year to $33.3 million. The average price per carat sold was 2,326 US dollars, compared to 2,177 US dollars in the first half of
Russian oil and gas revenues in July, projecting a 60% rise from May receipts to 844 billion roubles ($9.3 billion). The boost in income is attributed to cyclical patterns and is expected to help alleviate Moscow’s budget deficit, which reached 2.6 trillion roubles ($28.7 billion) in the first half of the year. Russia’s Finance Minister, Anton Siluanov, had previously acknowledged that the country’s budget deficit in the coming year might exceed the expected 2% of
The President of the National Agency for Oil, Gas, and Biofuels (ANPG), Paulino Jerónimo, appealed on Thursday in Luanda for oil companies to continue investing in the Oil and Gas sector to increase production levels so that the country can surpass the current levels evaluated at one million and 100 barrels per day. The CEO of ANPG, who spoke at the closing of the Sustainability Forum in the Petroleum sector, part of the Oil and
From September 3 to September 14 of this year, the country will host the 4th edition of the International Angola Oil and Gas Conference, with the participation of more than 40 oil and gas industry producing and service-providing companies. The President of Energy Capital and Power, the event organizer, pointed out that the conference will serve as an opportunity for investors to explore the great potential of Angola’s Oil and Gas sector and the favorable
The third day of the Luanda International Fair (FILDA), an event taking place since Tuesday, in the Industrial Economic Zone, is being dedicated to the United States of America and the oil sector.
Djibouti’s state-owned logistics and transportation infrastructure investment vehicle, Great Horn Investment Holding (GHIH), has secured a $120 million financing package from the African Export-Import Bank (Afreximbank) to implement a series of oil and logistics projects in the Damerjog Industrial Development Free Trade Zone. The financing for the project involves a combined package of $120 million from the African Export-Import Bank (Afreximbank) and $35 million from the local banking institution Banque pour le Commerce et l’Industrie
Anglo-Australian multinational company Rio Tinto has announced its investment of A$40.4 million in the mining firm Sovereign Metals Limited. This investment will allow Rio Tinto to acquire a 15% stake in Sovereign and provide the necessary funding to advance the Kasiya Rutile-Graphite Project in Malawi. In a press release, Ben Stoikovich, Chairman of Sovereign, described the agreement with Rio Tinto as a landmark one, highlighting the potential for Kasiya to become a globally significant supplier
Nigeria and Equatorial Guinea have expressed their interest in collaborating on the development of the regional oil and gas sector. The two countries are looking to formalize a partnership to support investment, regional employment, and trade while jointly spearheading energy projects. During a meeting between Equatorial Guinea’s Ministry of Planning and Economic Diversification and the Nigerian Content Development and Monitoring Board (NCDMB), several areas of cooperation were identified. The key areas of collaboration include establishing
The Angolan Government aims to make the mining sector more diversified and less reliant on diamond exploration activities, stated the Director of the Office of Studies, Planning, and Statistics at the Ministry of Mines, Petroleum and Gas in Luanda yesterday. Alexandre José Garret, who opened the II Safe Life in Mining Forum, part of the conferences at the 38th edition of FILDA 2023, mentioned that this vision of the Government is part of the program
