Vital Industry News
Sonangol Aims for 10% National Oil Production Quota by 2027 with Target of 80,000 Barrels per Day PetroWorld to Launch Lubricants Factory in Angola Equinor Praises Angola’s Efforts to Revitalize Oil Production Angola’s President Defends Hydrocarbon Development Amid Global Climate Crisis Angola to Auction 44 Special Diamonds in Online Bidding Event Eni Secures Strong Interest for New LNG Project in Mozambique Amid Financing Challenges Financial Struggles Hamper Fuel Imports in Mozambique Triton Minerals to Acquire Promising Gold and Copper Project in Mozambique DRC Cancels Licensing Round for 27 Oil Blocks Amid Controversy and Irregularities Dangote to Begin Crude Oil Production in Nigeria by 2025
Local News Oil

Sonangol Aims for 10% National Oil Production Quota by 2027 with Target of 80,000 Barrels per Day

Local News Petroleum

PetroWorld to Launch Lubricants Factory in Angola

Local News Oil

Equinor Praises Angola’s Efforts to Revitalize Oil Production

More Angolan Mining News

Local News Oil

Sonangol Aims for 10% National Oil Production Quota by 2027 with Target of 80,000 Barrels per Day

Angola’s national oil company, Sonangol, is on track to achieve a national production quota of…
Local News Petroleum

PetroWorld to Launch Lubricants Factory in Angola

PetroWorld, a Dubai-based oil company, is set to open a lubricants factory in Angola early…
Local News Oil

Equinor Praises Angola’s Efforts to Revitalize Oil Production

Nina Birgitte Koch, Vice President for Africa at Equinor, has commended Angola's initiatives to revitalize…
Local News

Angola’s President Defends Hydrocarbon Development Amid Global Climate Crisis

Angolan President João Lourenço acknowledged the severity of the global climate crisis while emphasizing the…
Diamonds Local News

Angola to Auction 44 Special Diamonds in Online Bidding Event

Angola’s state-owned diamond marketing company, Sodiam, announced the electronic auction of 44 special diamonds, each…
International Corporate News Gas Oil

Eni Secures Strong Interest for New LNG Project in Mozambique Amid Financing Challenges

Eni SpA has garnered substantial interest for its upcoming floating liquefied natural gas (LNG) project…
Local Oil Petroleum

Sonangol Expands Light Well Intervention Program in Offshore Block 3/05

The National Fuel Company of Angola (Sonangol) is set to continue its light well intervention program in Offshore Block 3/05, aimed at enhancing facility reliability and optimizing oil production. This initiative was detailed in a semi-annual earnings update from oil and gas company Afentra. The upgrade program will focus on increasing water injection rates, building on the maximum injection rate of approximately 60,000 barrels per day achieved in April. Additionally, the project will involve the

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Local Energy News

Angola’s Revised Electricity Law to Boost Private Sector Involvement in Energy Transmission

The review of Angola’s General Electricity Law, recently approved by the Council of Ministers, will soon pave the way for private sector participation in energy transmission once it receives approval from the National Assembly. This announcement was made by the Minister of Energy and Water, João Baptista Borges, during the opening of the 13th Consultative Council of the sector, held in Luanda. Borges emphasized that this development is critical for advancing cross-border energy interconnection projects

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International Corporate News Gas News

Eskom and Sasol Partner to Explore LNG Imports as Mozambique Gas Supply Declines

Eskom and Sasol have signed a memorandum of understanding (MoU) to explore the introduction of liquefied natural gas (LNG) as a replacement for natural gas imports from southern Mozambique, which are expected to decline significantly by 2027. The MoU was signed by Eskom CEO Dan Marokane and Sasol CEO Simon Baloyi during a ceremony at Eskom’s Megawatt Park, attended by Electricity and Energy Minister Dr. Kgosientsho Ramokgopa. In early September, Sasol announced that the decline

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Diamonds Economy Local News

Angola’s Diamond Reserves Estimated at 732 Million Carats, Valued at $140 Billion

Angola’s National Diamond Company (Endiama) estimates the country’s diamond reserves at 732 million carats, potentially generating $140 billion for the state at an average price of $200 per carat. Miguel Vemba, Director of Mining Operations at Endiama, emphasized that over 90% of these reserves are located in primary deposits. Speaking at the 10th UNESCO African Engineering Week & African Engineering Conference in Luanda, Vemba stressed the need for efficient recovery mechanisms, including the use of

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Local Economy News Oil

Sonangol to Begin Interest Payments on “Sonangol 2023-2028” Bonds

Sonangol will begin paying interest on Coupon No. 2 for holders of the “Sonangol 2023-2028” Bonds on Wednesday, September 18, 2024. Initially scheduled for Saturday, September 14, the payment date was adjusted in accordance with business day conventions outlined in the bond prospectus. A total of 6.6 billion kwanzas will be disbursed, subject to withholding of the Capital Investment Tax, based on the applicable tax regulations in force at the time of payment. According to

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International News Oil

Shell’s $1.3 Billion Onshore Asset Sale to Renaissance Gains Regulatory Approval

Shell International Plc has received approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to sell its onshore assets to Renaissance, a consortium of Nigerian and international companies, in a deal valued at $1.3 billion. The sale includes Shell’s 75-year-old onshore oil assets, which will boost Nigeria’s oil production and government revenue while supporting naira stability and advancing gas development initiatives. The final approval, however, rests with President Bola Tinubu, who also serves as Nigeria’s

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International Oil

South Sudan and Sudan Advance Plans to Resume Oil Exports After Conflict

South Sudan and Sudan have taken significant steps to resume the flow of South Sudan’s crude oil through a pipeline that runs across Sudan, a crucial move for South Sudan’s economy, which heavily relies on oil revenue. According to a statement from South Sudan President Salva Kiir’s office on September 16, 2024, Sudanese engineers had completed the technical preparations needed to restart oil production. This announcement followed a meeting in Juba between Kiir and Sudan’s

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International Oil Petroleum

NNPC to Begin Fuel Distribution from Dangote Refinery Amid Revised Supply Agreements

Nigeria’s state-owned oil company, NNPC Limited, began distributing gasoline from the 650,000 barrels-per-day Dangote Refinery to the local market on Sunday, September 15, following delays over offtake rights and pricing. The $20 billion Dangote Refinery, built by Africa’s richest man, Aliko Dangote, started gasoline production last week, but distribution was held up due to disputes. Z acch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), announced that all agreements have now been finalized,

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International Energy Renewable Energy

Egypt to Add 3 GW of Solar and Wind Power by 2025 Through Private Investments

The Egyptian Ministry of Electricity and Energy plans to integrate 3 gigawatts (GW) of solar and wind power into the national grid by the summer of 2025, according to a government official who spoke to Asharq Business. The projects will be executed by private sector companies under a Build, Own, Operate (B.O.O.) model, meaning the investors will finance, construct, operate, and own the projects, while the Egyptian Electricity Transmission Company (EETC) will purchase all the

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Local Exploration News Oil

Corcel Completes Key Data Acquisition for Angola’s Block KON-16 Exploration

Exploration company Corcel has completed the data acquisition phase of the Enhanced Full Tensor Gradiometry (eFTG) Survey on Block KON-16, located in Angola’s onshore Kwanza Basin. The collected data, acquired by contractor Metatek Group, will now undergo analysis and interpretation through the end of 2024. This phase is crucial for gaining geological insights to support exploration and development plans for the 1,000 km² block. “This marks a significant milestone in our exploration efforts, providing a

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