Mota-Engil Consortium Wins Tender to Revitalize Porto-Amboim Naval Shipyard

A consortium of two Mota-Engil companies has won the tender to revitalize the Porto-Amboim Naval Shipyard (Paenal), an infrastructure designed for the oil industry, announced Sonangol. In a statement, the state-owned oil company revealed that four companies participated in the tender for Paenal’s revitalization, which includes implementing a maintenance, repair, and shipbuilding project. Two companies were disqualified for not meeting the requirements. Sonangol deemed the consortium of Mota-Engil, Engenharia e Construção Africa, S.A., and Mota-Engil

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Angola’s Q2 Fuel Imports Drop 8% to $689 Million

In the second quarter of 2024, Angola imported 1.1 million metric tons of fuel valued at $689 million, reflecting an 8% decline from the previous quarter, according to official data. The Regulatory Institute for Petroleum Derivatives (IRDP) reported that 59.4% of the total volume was diesel, 22.2% gasoline, 12.3% fuel oil, 3.8% Jet-A1, 1.2% asphalt bitumen, and the remainder illuminating oil. The origin of these fuel acquisitions was 35.4% from the Luanda Refinery, 0.8% from

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Pumangol’s Jet Fuel Sales Surge 45% in Q2 Amid Growing Customer Base

Pumangol reported a significant 45% increase in jet fuel (Jet-A1) sales over three months. In the second quarter of this year, the company earned 7.2 billion kwanzas from Jet-A1 sales, marking a notable rise compared to the previous quarter. The surge in sales is attributed to the acquisition of new customers and an increase in the number of weekly flights by existing customers, according to a statement cited by Angop. Despite a 19% year-to-date decrease

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Angola to Invest Over $72 Billion in Oil and Mining by 2027

Investments in Angola’s active oil concessions, excluding new blocks auctioned, reached $47 billion between 2018 and 2022 and are projected to exceed $72 billion between 2023 and 2027. This information was provided by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during the first edition of “Conversations without Makas,” hosted by economist Carlos Rosado de Carvalho. The event focused on the future contributions of oil, gas, and critical minerals to Angola’s economy. Azevedo

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Angola Faces Refinery Financing Challenges but Stays Committed to Self-Sufficiency

The Minister of Mineral Resources and Oil, Diamantino Azevedo, acknowledged difficulties in financing refineries but assured that the government remains focused on achieving self-sufficiency in refined products. He emphasized that these projects would be successfully completed. Speaking at the inaugural “Conversas sem Makas,” a forum initiated by journalist and economist Carl Rosado de Carvalho, Minister Azevedo reviewed his tenure since 2017. He highlighted the importance of Angola’s mineral resources, describing them as a “blessing” that

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Angola’s Drilling Expansion and Norwegian Expertise to Boost Oil Exploration

In 2024, Angola plans to drill up to 43 wells across onshore and offshore blocks, targeting accelerated exploration. Concurrently, the National Oil, Gas & Biofuels Agency (ANPG) will review abandoned wells and installations, representing 45% of the country’s total well count, to assess opportunities for reactivating closed oil wells. These efforts present new opportunities for technology-driven drilling, with Norwegian firms poised to play a significant role in supporting Angola’s production growth. Norwegian energy company Equinor,

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Petra Diamonds Postpones Tender to Align with Market Conditions

London-listed Petra Diamonds has postponed its August/September tender to support measures taken by major producers to limit supply amid weaker demand. Rough diamond parcels from its South African operations, originally intended for sale in August/September as part of the first tender for the 2025 financial year, will now be included in the second tender, expected to close in mid-October. The schedule for tenders from the Williamson mine in Tanzania remains unchanged. Petra’s South African operations

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Botswana’s Diamond Sales Plummet 49% Amid Global Market Downturn

Sales of rough diamonds at Debswana Diamond Company fell by 49.2% to $1.29 billion in the first half of the year, compared to $2.54 billion in the same period last year, according to Botswana’s central bank data. In local currency, sales dropped by 47.3% to 17.555 billion pula. This decline is a significant setback for Botswana, which relies on rough diamond sales for 30-40% of its revenue, 75% of its foreign exchange earnings, and one-third

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Angola’s Council of Ministers Approves Laws to Boost Local Processing of Quartz and Gypsum

The Council of Ministers in Angola has approved a series of laws aimed at prohibiting the export of quartz and gypsum, emphasizing the importance of transforming these mineral resources domestically before export. This initiative seeks to enhance the manufacturing industry, generate employment, facilitate skill transfer to the national industry, and ensure revenue for the State, according to a press release issued after the meeting held on Friday. During this seventh ordinary session, chaired by President

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Mavoio Mine Set to Begin Copper Production in 2025

Janio Correa Victor, the Secretary of State for Mineral Resources, announced that the Mavoio mine, located in Maquela do Zombo, Uige, is expected to commence copper production next year. Currently, equipment is being installed at the site following comprehensive environmental and economic analyses to facilitate the transition into the production phase. Speaking at a conference on investments in the mineral resources, oil, and gas sectors, Correa Victor emphasized the project’s potential to significantly boost both

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