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Economy Energy Gas Oil

Angolan Oil & Gas Infrastructure Sparks Investor Frenzy

19, May, 202319, May, 2023

Angola has become an attractive investment destination, particularly in the oil and gas infrastructure sector, enticing global and regional players to expand their presence or enter the market. The country has seen foreign capital flow into its market for some time, but recent months have witnessed heightened investment flows driven by advancements in the oil and gas infrastructure sector. Angola’s attractiveness as an investment destination is expected to further increase due to its attractive fiscal

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Economy Energy Oil

Angola’s Downstream Development to Drive Domestic Capacity

18, May, 202318, May, 2023

Angola, as the largest oil producer in Africa, faces a significant challenge with its minor downstream industry and heavy reliance on petroleum imports, which currently account for approximately 80% of its refined petroleum products. To address this issue, the Angolan government has made increasing domestic crude processing capacity a strategic priority. With vast proven oil reserves of over 8.2 billion barrels and abundant natural gas resources totaling 13.5 trillion cubic feet, Angola has the potential

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Economy Local News Petroleum

Oil accounts for 90 percent of Angola’s exports to India

16, May, 202316, May, 2023

Oil accounts for 90 percent of Angola’s exports to India, which is why trade, currently estimated at US$4 billion, is favorable to the African partner, according to the ambassador to that country. Pratibha Parkar made these statements, Monday 15th May, in Luanda, at the opening of the Angola – India Business Forum, held on the occasion of the visit of 17 companies affiliated to the India – Africa Chamber of Commerce, seeking greater knowledge of

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Economy International News Oil

Brent for July delivery drops to $74.94

16, May, 202316, May, 2023

The price of a barrel of Brent oil, which serves as a reference for Angolan exports for delivery in July, ended this Thursday 11th May on the London futures market down 1.39%, to US$74.94. The price of Brent lost ground despite it being known that OPEC forecasts a growth in global oil demand of 2.3% in 2023, to a total of 101.9 million barrels per day. The industrialized countries of the Organization for Economic Cooperation

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International News Petroleum

Petrobras increases sales volume to Europe to 26%

16, May, 202316, May, 2023

The Brazilian oil company Petrobras reduced, in 2022, oil sales to China from 56 percent of total exports to 42 percent, while increasing volumes destined for Europe, from 14 to 26 percent. According to a report on the results of the first quarter of this year, the Brazilian state-owned company reported that, over the last few years, it has been implementing a “constant search for global opportunities and development of new customers”. decisive for it

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Energy Local News

Country has potential to respond to energy demand in the southern region

16, May, 202316, May, 2023

The growth of the oil and gas industry in the country has the potential to meet the growing regional demand for energy. The information is contained in a report by the African Energy Consultant. According to the document, with the country holding around 27 trillion cubic feet of natural gas and 7.8 billion barrels of oil reserves, and with Sub-Saharan Africa representing one of the lowest rates of access to energy worldwide worldwide, developments in Angola’s

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Economy Local News Petroleum

Angola registers US$9.4 billion in new contracts

16, May, 202316, May, 2023

Angola signed, last year, five service contracts with international oil companies, which totaled US$9.4 billion, according to data from Energy Capital & Power. According to the company, a leading global investment platform focused on the African energy sector, the five highest value service contracts were signed between 2022 and the current year. The contract with the highest value (US$7.8 billion) was signed in February this year by Azule Energy, the largest independent oil and gas

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Diamonds Local News

SODIAM auctions 36 special diamond stones

16, May, 202316, May, 2023

SODIAM is going to hold an electronic auction on May 19th, to sale 36 special diamond stones to the registered national and international buyers. According to a press release from SODIAM-E.P., viewing sessions will take place from 8th to 18th of May, at the company’s offices in Luanda, and the bidding process, which will be carried out only electronically, closes at 10am of May 19th. The document also explains that the auction is directed to

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Diamonds International News

Diavik diamond mine: Rio Tinto celebrates 20 years of production

16, May, 202316, May, 2023

Rio Tinto is celebrating 20 years of production from its Diavik diamond mine in the Northwest Territories of Canada. The Diavik diamond deposit was discovered in the 1990s as part of the largest mineral prospecting rush in Canadian history. Commercial production at Diavik began in 2003, and since then Diavik has produced over 140 million carats of rough diamonds through a combination of surface and underground mining. The Diavik production comprises predominantly white gem-quality diamonds

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Diamonds Economy Local News

Cutting and polish Diamond with exceptional measures on VAT

16, May, 202316, May, 2023

The investors of cutting and polish diamond in Angola said they are pleased with the announcement of exceptional measures to be implemented by the Ministry of Mineral Resources, Oil and Gas, in order to reduce Value Added Tax. According to Brás da Silva, representative of the Minas Raras company, the decision will ease the burden and boost the investment of factories and investors in the cutting and polish diamond area and, in the future, in

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