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International

Angola grows above 3% but below the regional average

25, July, 202225, July, 2022

The consultancy FocusEconomics predicts that Angola’s economy will grow 3.2% this year and accelerate to up to 3.6% in 2024, also forecasting an expansion below the average of sub-Saharan African countries. “Growth is expected to accelerate significantly this year, in a context in which the easing of restrictions related to the pandemic boosts domestic demand, while the external sector benefits from high raw material prices”, write analysts at FocusEconomics, in the monthly analysis of sub-Saharan

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Energy

MCA company participates in the energy matrix modernization program

25, July, 202225, July, 2022

MCA Group is strongly committed to carrying out its strategy of consolidating Angola’s new energy matrix, which will allow the installation of seven photovoltaic parks in six provinces in the south of the country. Through Data consulted Angola indicate that the Portuguese company takes an effective role in promoting green energy and environmental sustainability. of solar resource in Angola, with an average annual global radiation in horizontal plane between 1370 and 2100 kWh/m2. Based on

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International Oil

Oil revenue in Angola rises 71%

25, July, 202225, July, 2022

Oil revenues in Angola rose 71.1% in the first half of the year, compared to the first six months of last year, despite production having increased by just 3.3%, according to consultancy Oxford Economics Africa.\ “Despite historically low levels of oil production, statistics from the Ministry of Finance continue to show a strong improvement in oil revenues, mainly due to higher prices”, write the analysts, noting that revenues reached 4.2 billion kwanzas. , in the

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Mining

Angola signs agreement to explore world-class minerals

25, July, 202225, July, 2022

The Geological Institute of Angola (IGEO) and the Korean Association for Economic Development of Africa (AKEDA) signed, Sunday, in Seoul, South Korea, an agreement with the objective of creating a working group to define the terms and conditions of prospecting and research projects for world-class mine exploration in Angola. According to a press release sent to Jornal de Angola Online, the agreement was signed in the presence of the Plenipotentiary Ambassador of Angola to South

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Infrastructure

Angolan Government’s Ministry of Transport awards concession tender for the Lobito Corridor railway

23, July, 202223, July, 2022

The Ministry of Transport of the Government of Angola has announced the award of the concession tender for rail services and logistics support for the Lobito Corridor, a key route connecting mines in the Democratic Republic of the Congo (DRC) to the Lobito port in Angola and international markets beyond. The 30-year concession, with the potential of a 20-year extension, has been awarded to a consortium comprising Trafigura Pte Ltd (“Trafigura”), a market leader in

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International

Algeria, Equatorial Guinea and Angola crudes the most expensive in the world (OPEC)

21, July, 202221, July, 2022

Crudes from Algeria, Equatorial Guinea and Angola became the most expensive in the world during June and for the first half of 2022 as a whole, according to the Organization of the Petroleum Exporting Countries’ (OPEC) monthly report released on July 12. Algerian crude, Sahara Blend, has become the most expensive in the world during the past June and the first six months of 2022. The average price of this low-sulfur, very low-density crude reached

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Energy

João Lourenço inaugurates photovoltaic parks that will provide electricity to 1.5 million people

21, July, 202221, July, 2022

The first photovoltaic plants in the country, developed by a consortium that integrates the Portuguese group MCA, were inaugurated this Wednesday in Benguela and will produce electricity to supply 1.5 million people, according to the Ministry of Energy and Water. The plants were inaugurated by the President of the Republic, João Lourenço, who arrived this morning in Benguela, for a visit of a few hours. The photovoltaic parks, located in Biópio and Baía Farta, in

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Energy

Solar plants will replace thermal sources of energy production

21, July, 202221, July, 2022

The Minister of Energy and Water, João Baptista Borges, assured, Wednesday (20), in Benguela, that the solar plants will replace the thermal sources of energy production. “In this way, we will save 275 million liters of fuel per year, which represents, in financial terms, about 85 million dollars annually”, he said. The country’s first two solar power plants, inaugurated yesterday by the President of the Republic, João Lourenço, in Biópio and Baía Farta, will benefit

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Infrastructure

Angola awards $333m to Trafigura consortium to improve Congo rail link

21, July, 202221, July, 2022

Angola’s ministry of transport has awarded a tender to a Trafigura consortium to operate and expand rail infrastructure to speed up commodity imports from the Democratic Republic of Congo. Congo, Africa’s biggest copper producer, exports copper, cobalt, and other metals in trucks via Tanzania or South Africa, which takes several weeks because of congestion and customs delays. As part of a 30-year concession agreement, the consortium has agreed to invest $256 million in infrastructure, $73

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Energy

Trelleborg completes remote installation for deepwater energy project

20, July, 202220, July, 2022

Trelleborg Marine and Infrastructure has completed the remote installation of its SafePilot Offshore technology for a deepwater oil & gas project in Angola, the company announced 19 July. The work was part of an upgrade of the navigation and positioning systems and buoy monitoring systems to a floating production storage and offloading unit (FPSO). To create more remote operations for its offshore assets, the FPSO operator required support for the installation, data integration, software uploading

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