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Luanda is hosting today, at 8:30, at the Epic Sana Hotel, a Roadshow for the awarding of 12 (twelve) oil blocks In this type of event, many national and international oil companies will participate. This even is organized by the National Agency for Petroleum, Gas and Biofuels (ANPG), the Roadshow provides details about eight blocks in the Kwanza Onshore Basin (namely Blocks KON 1, KON 3, KON 7, KON 10, KON 13, KON 14, KON
Nigerian billionaire Aliko Dangote inaugurated the largest refinery plant in the world on Monday, May 22, 2023, in Lagos. The inauguration ceremony was attended by former President Muhamadou Buhari and four other dignitaries from the continent. Nigeria, with its population of 215 million, is one of the largest oil producers in Africa. However, due to the failure of its state refineries, the country has been forced to import most of its fuel, leading to fuel
In 2022, the industrial exploitation of diamonds in the Democratic Republic of Congo (DRC) generated revenues of approximately 62.3 million US dollars, according to the annual report (2022) of the Technical Unit of Coordination and Mining Planning (CTCPM). This represents an increase of over 10 million US dollars compared to the previous year, where the export of industrially mined diamonds by companies had generated revenues of around 52 million US dollars. One of the companies
The forum on energy investments held during the DRC Mining Week has put forward recommendations, including the need to transform the political will of governments into actual energy. Participants at the forum emphasized the importance of pragmatism alongside their aspirations. The event took place on June 14, 2023, in the Bukavu room of the Karavia hotel in Lubumbashi, with John Kanyoni from the FEC Chamber of Mines serving as the moderator. The forum’s central theme
The main oil and gas producing countries continue to increase their investments in the production of fossil fuels even when they should have already ended it, in order to limit global warming to +1.5°C,” indicates a pro-climate structure. According to this analysis, fossil fuels are at the heart of climate disturbances. The analysis also illustrates that oil, gas, and coal alone are responsible for approximately 90% of global greenhouse gas emissions. Some of the major
Algeria’s state-owned oil company, Sonatrach, has signed a contract worth $800 million with Indonesia’s Pertamina and Spain’s Repsol to undertake joint exploration and production of hydrocarbons. The contract stems from a memorandum of understanding signed by the three companies on September 28, 2022. The contract entails an ambitious work program, which includes several key projects. Among them are the construction of an LPG (liquefied petroleum gas) extraction unit, the drilling of twelve oil wells, and
The government of Angola, represented by the Ministry of Energy and Water, has committed to providing electricity to approximately six million people in the southern and eastern regions of the country within the next five years. This initiative is part of a broader government strategy aimed at granting energy access to half of the country’s total population by 2025. The plan involves utilizing the 520 MW Capanda Dam, located in Malanje province, to supply power
JA Online An Angolan delegation will participate from 13th to 14th in Dakar, the capital of Senegal, at the Global Conference of the Extractive Industries Transparency Initiative (EITI). The Minister of Mineral Resources, Petroleum, and Gas, Diamantino Azevedo, will give a presentation on the progress made in transparency and efforts for the development of the extractive sector, with a focus on prospecting and future exploration of minerals considered critical for the energy transition. According to
Oil traders (financial market investors seeking to profit from short-term operations, taking advantage of market volatility) are beginning to ignore the most important person in the market and it can be a risky move. Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, promised to unilaterally cut the country’s oil production in July to the lowest level in over a decade, excluding Covid-19 era restrictions. The Saudi described the move as a “lollipop.” While there have
According to a report from UBS, the global wealth manager, Brent crude oil is expected to reach $95 a barrel by the end of 2023. UBS’s Chief Investment Officer for Global Wealth Management, Mark Haefele, stated that they consider oil to be their preferred investment and have revised their forecast upward from the current price of $77.90 per barrel. Haefele also recommended selling volatility in Brent crude oil and highlighted the appeal of longer-dated oil
