Angolan Mining Oil & Gas - Page 60 of 295 - Top Angolan News for Oil, Gas and Mining Industries

South Sudan and CNPC Explore New Oil Pipeline through Ethiopia to Boost Exports

10, September, 202410, September, 2024

South Sudan and China National Petroleum Corporation (CNPC) are negotiating the construction of a new oil pipeline through Ethiopia to Djibouti, aimed at enhancing South Sudan’s export capacity. This development follows South Sudanese President Salva Kiir’s visit to China, where he met with CNPC officials to discuss reforms in South Sudan’s oil sector. These reforms include improving oil production by establishing a new refinery and expanding distribution networks. During his visit, President Kiir also participated

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International Gas News

UTM Offshore Ltd. Secures Approval for Nigeria’s First Floating LNG Facility

10, September, 202410, September, 2024

UTM Offshore Ltd. has received approval to build Nigeria’s first floating liquefied natural gas (LNG) facility, five years after its initial proposal. The Nigerian Midstream and Downstream Petroleum Regulatory Authority issued a license-to-construct for the LNG project, which has a capacity of 2.8 million metric tons per year. Farouk Ahmed, head of the regulatory agency, noted that the approval represents a significant milestone and supports the government’s gas expansion goals. Nigeria, Africa’s leading crude oil

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International Gas News

Mozambique’s Buzi Block Set to Begin Natural Gas Production by 2026

10, September, 202410, September, 2024

The onshore Buzi block in Sofala province, Mozambique, is projected to start natural gas production by 2026, with plans to power a thermoelectric plant in the region. Rudêncio Morais, research and production administrator at the National Hydrocarbons Company (ENH), revealed that assessment activities are underway to finalize the development plan, expected to be submitted to the government by the end of 2024. Morais shared this information during the II Indonesia-Africa Forum in Bali, highlighting the

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International News

Russia Seeks Deeper Involvement in Nigeria’s Hydrocarbon Market

10, September, 202410, September, 2024

Russia has expressed interest in expanding its role in Nigeria’s hydrocarbon industry, offering its expertise in offshore seismic surveys and hydrocarbon exploration. This interest coincides with Nigeria’s plans to establish mobile LNG filling stations. Weyinmi Eribo, Director General of Nigeria’s Women Chamber of Commerce, Industry, Mines, and Agriculture, emphasized that a partnership with Russia could greatly benefit Nigeria due to Russia’s advanced technology and extensive experience in the energy sector. She shared her insights during

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Energy

$700 Million Trans-Cunene Railway Project to Link Angola and Namibia

10, September, 202410, September, 2024

The $700 million “Trans-Cunene” railway project, aimed at connecting Angola and Namibia, was presented last Thursday to the Provincial Government of Namibe by Namibian company Global Business Development (GBD). Harold Luttichau, head of the consortium, outlined the project, which includes building a new 400-kilometer railway from Lubango to Cunene and rehabilitating the existing line between Lubango and Moçâmedes. The project is expected to be completed within 15 months. “This rail link will benefit not only

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Oil Local News

November Oil Price Closes at $69.17, Surpassing Angola’s 2024 Budget

10, September, 202410, September, 2024

Negotiations for oil deliveries in November concluded on Friday at $69.17 per barrel, surpassing the $65 per barrel reference price set in Angola’s 2024 General State Budget (OGE) by $4. The 2024 OGE reduced the reference price from $75 in 2023, reflecting a $10 decrease. From January to the end of July, oil prices consistently remained above $75, at times approaching $100 per barrel.

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Local News Petroleum

Efforts Underway to Expand Fuel Stations in Cuando Cubango Province

10, September, 202410, September, 2024

A technical team from the Petroleum Derivatives Regulatory Institute (IRDP), part of the Ministry of Mineral Resources, Oil, and Gas (MIREMPET), has been in Cuando Cubango since last week to promote the construction and renovation of fuel stations to meet growing demand. The IRDP hosted a seminar for business owners and fuel station operators. IRDP representative Bruno Tito explained that the event aligns with the National Development Plan (PDN) 2023–2027, which aims to enhance the

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Local News

Pensana and Hanwa Sign MoU for Rare Earths Offtake and Strategic Collaboration

9, September, 20249, September, 2024

London-listed rare earths miner Pensana has entered into a nonbinding memorandum of understanding (MoU) with Japanese trading group Hanwa for the offtake of up to 20,000 tons per year (t/y) of mixed rare earth carbonate (MREC). Pensana owns 84% of the Longonjo neodymium/praseodymium project in Angola, which is set to initially produce 20,000 t/y of MREC in 2026, with plans to ramp up production to 40,000 t/y by 2029 through planned expansions. Under the MoU,

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International Oil

OPEC+ Delays Oil Supply Increase, Extends Production Cuts

9, September, 20249, September, 2024

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have delayed their planned increase in oil supply, originally expected in October 2024. According to new data from the organization, an increase in cumulative crude oil production is anticipated. OPEC+ plans to inject around 180,000 barrels per day (b/d) into the oil market by December 2024. In the meantime, the voluntary production cuts currently implemented by Saudi Arabia, Russia, Iraq, the United Arab Emirates,

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Local Exploration Gas News Oil

ANPG and Sonangol Launch New Hydrocarbon Exploration Project in Kwanza Basin

7, September, 20247, September, 2024

The National Oil, Gas, and Biofuels Agency (ANPG) and Sonangol Exploration and Production are set to invest in a specialized service to identify oil and other hydrocarbons in the onshore blocks of the Kwanza Basin. In a press release, ANPG announced that the project is scheduled to commence in September this year. The aim is to enhance geophysical and geological understanding of the Kwanza Basin blocks. The initial phase of the project will involve data

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