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Economy Gas Local News Oil

Fuel Subsidy costs between 3 to 4 billion Dollars/year

7, March, 20237, March, 2023

The Minister of Finance, Vera Daves de Sousa, said this Tuesday morning on the “Café da Manhã” program on LAC radio, that the fuel subsidy costs the Government between US$3 and US$4 billion. According to the minister, these numbers should be analyzed with the importance they deserve, as the social sector would need these values a lot. Vera Daves de Sousa recalled, for example, that the Integrated Plan for Intervention in Municipalities (PIIM) is funded

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Economy Local News Oil

Pumangol Inaugurates 80th Fuel Station

7, March, 20237, March, 2023

The national company that distributes oil derivatives, Pumangol, will inaugurate today, starting at 6 pm, the 80th Supply Station of the distribution network, located at Avenida Pedro de Castro Van-Dúnem Loy, Talatona, in Luanda According to a press release sent to Jornal de Angola, the project is one of the company’s main assets and is part of the programs contained in the National Development Plan Based on the National Development Plan (PDN) 2018/2022 and the

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Economy Energy International

African Delegation to Berlin calls for Greater support around Green Hydrogen development

7, March, 20237, March, 2023

West and southern Africa Ministers responsible for climate change have visited the German Bundestag in Berlin as part of a inter-ministerial meeting to round-off a decade of climate partnership between Africa and Germany through the West African Science Service Centre on Climate Change and Adapted Land Use (WASCAL) and the Southern Africa Science Service Centre on Climate Change and adapted land management (SASSCAL) Among the key issues discussed were the success stories of the two

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Economy International Oil

Global Oil Flows Are Changing As Russian Crude Moves East

7, March, 20237, March, 2023

Russian oil flows are increasingly moving in an eastern direction, while fuels produced in the East will move in a western direction, Vitol’s chief executive Russell Hardy said at an industry event. “It’s going to go further and longer distances and find different markets, and in doing that it’s going to have to trade at a discount,” Hardy said of Russian oil, as quoted by Reuters. “You’re beginning to see that with fuel coming east that would

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Diamonds Economy International News

Gem Recovers 122 carat Diamond at Letšeng

7, March, 20237, March, 2023

Gem Diamonds has recovered an exceptional 122-carat D colour Type II white diamond at its 70%-owned Letšeng mine in Lesotho. This is the first diamond greater than 100 carats that the company has recovered this year. It only recovered four diamonds greater than 100 carats in 2022 from six in 2021, which was lower than the 14-year average of eight. This impacted the overall revenue generated last year. Gem sold 107 498 carats in 2022

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Economy Energy Local News Oil

Europe can count on Angola’ for Energy, President João Lourenço tells Euronews

7, March, 20237, March, 2023

The impact of the war in Ukraine is being felt far beyond the European continent. In a bid to cut its dependence on Russian gas, Europe is keen to shore up its energy supply and look for alternative sources. As the war in Ukraine passed its one-year mark, and following the visit of French President Emmanuel Macron and Felipe VI, the King of Spain, Euronews spoke to Angola’s President João Lourenço about the vision of Africa’s second-largest

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Economy Gas International News Oil

TotalEnergies plans to Resume Construction of the Gas Plant in Cabo Delgado

7, March, 20237, March, 2023

Construction of the Total Energies gas liquefaction plant in Cabo Delgado, Mozambique, will resume in July. According to the executive director of Saipem (Italian engineering company Saipem), Alessandro Puliti, quoted by the specialized portal for the oil sector Upstream, the restart of the project will be done gradually from July this year. Alessandro Puliti was speaking during an internet intervention (“webcast”) held last week to present the results for the fourth quarter of 2022 to

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Economy Local News Oil

ANPG and Chevron to Produce 6,500 Barrels of Oil per day at Lifua

7, March, 20237, March, 2023

The National Petroleum, Gas and Biofuels Agency (ANPG) and Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of Chevron, announced this Monday 6th March the start of oil production at the Lifua-A project, forecast to produce 6,500 barrels. per day. According to an ANPG press release, the Lifua-A platform, in Block 0, is interconnected with existing facilities in the Takula area and is expected to produce a total of 6,500 barrels of oil per day

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Economy Local News Oil

Brent Crude for May delivery increases to $86.20

7, March, 20237, March, 2023

The price of a barrel of Brent oil, which serves as a reference for Angolan exports, for delivery in May ended yesterday 6th March, on the London futures market up 0.41%, to US$86.20. Brent prices regained ground in the latter part of the session, after falling earlier in the day, in reaction to the release of worse-than-expected economic forecasts for China. However, global tensions related to the supply of oil plus the expectation and improvement

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Economy Gas International News

BB Energy invests in Gasmeth Energy to support Natural Gas Development in Rwanda

5, March, 20235, March, 2023

BB Energy Group, a leading independent energy trading company, has invested in Gasmeth Energy Global, a company focused on the responsible extraction, processing, and distribution of methane gas from Rwanda’s Lake Kivu The naturally-occurring gas from the Lake will be separated from the waters and processed into compressed natural gas (CNG), a non-fossil biogas, to replace conventional fuels. The CNG will substitute gasoline, diesel, and coal across the transport, industrial, and power generation sectors in Rwanda. The

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