Angolan Mining Oil & Gas - Page 86 of 295 - Top Angolan News for Oil, Gas and Mining Industries

Economy Diamonds Local News

Diamond Revenue Hits $288 Million Despite Market Challenges

28, June, 202428, June, 2024

From January to May of this year, the country generated revenues of $288 million from the sale of 2.5 million carats of diamonds produced by the Catoca, Luele, and Lunhinga projects. The data was disclosed by the president of the Board of Directors of the National Diamond Company (Endiama EP), Manuel Nganga Júnior, during a “brainstorming” session for the Mineral Resources, Oil, and Gas Sector held on Tuesday in the nation’s capital. Manuel Nganga Júnior

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Local Economy Gas News Oil

Angola’s Export Revenue Hits $8.8 Billion in Q1: Crude Oil Dominates Earnings

28, June, 202428, June, 2024

In the first quarter of the current year, Angola’s exported goods generated a substantial revenue of $8.8 billion. A significant portion of this revenue, $8.2 billion, came from the sale of crude oil and gas, while $431 million was earned from the commercialization of ores. Economist Daniel Sapateiro presented these figures in Luanda during the 2nd International Trade Forum. The event brought together sector experts and government officials to discuss “The Current Context of Foreign

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Local Economy Transport and Logistics

The Impact of Lobito Atlântico Railways on the Benguela Railway Corridor

28, June, 202428, June, 2024

The management of the Benguela Railway (CFB) by the consortium Lobito Atlântico Railways (LAR), Trafigura, and Mota-Engil is expected to significantly enhance Angola’s Gross Domestic Product (GDP), contributing between $1.6 billion to $3.4 billion annually over the next 30 years. This projection was shared by LAR administrator Ottoniel Manuel during a discussion on the Girassol television channel under the theme, “The Impact of the Lobito Corridor on the Angolan Economy and the SADC Region.” Manuel

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Local Economy Expos & Events News Oil

Angola Anticipates 2.84% GDP Growth Fueled by Non-Oil Sectors

28, June, 202428, June, 2024

The Secretary of State for Finance and Treasury, Ottoniel dos Santos, reaffirmed Angola’s economic outlook, predicting a 2.84% growth in Gross Domestic Product (GDP) for the current year. He emphasized the robust performance expected from the non-oil sector, projected at 5.32%, during an address in Luanda at the inaugural Annual Conference “Investor’s Day” organized by BFA Gestão de Activos. Dos Santos underscored that the growth in GDP, driven by sectors such as agriculture, fishing, manufacturing,

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International News Oil

ReconAfrica Prepares for Naingopo Well Drilling in Kavango Basin

27, June, 202427, June, 2024

ReconAfrica is gearing up for the spudding of the Naingopo well in the Kavango onshore basin on July 7, 2024. All necessary camp setup, rig deployment, and equipment moves have been completed, with third-party service contractors mobilizing to the site ahead of schedule. At Prospect P, ongoing debushing and road access activities are progressing smoothly, with significant civil works, including well pad construction, set to commence next month. CEO Brian Reinsborough highlighted the operational intensity

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Local News Oil Petroleum

Angola to Privatize National Oil Company Sonangol by 2026

27, June, 202427, June, 2024

The Angolan government plans to privatize its National Oil Company (NOC) Sonangol by 2026, aiming to diversify its 30% stake and attract private investors. This initiative supports Sonangol’s ambition to expand operations across the oil and gas value chain and solidify its position as a competitive regional operator. The Angola Oil & Gas (AOG) conference, scheduled for October 2-3 in Luanda, will spotlight Sonangol’s transformation and its impact on driving oil and gas production in

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Diamonds International News

De Beers Faces Declining Rough Diamond Sales Amid Market Challenges

26, June, 202427, June, 2024

De Beers, the world’s largest diamond producer by value, has reported a decline in rough diamond sales for the second time this year. The Anglo American unit recorded provisional sales of $315 million, down from $383 million in the previous cycle and $456 million during the same period last year. The company attributed the drop to the quieter summer period, but analysts suggest that the diamond market continues to struggle. BMO analyst Colin Hamilton noted,

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Local News Transport and Logistics

Porto do Lobito EP Pursues Foreign Partnerships for Development

26, June, 202426, June, 2024

The president of the Board of Directors of Porto do Lobito EP, Celso Rosas, announced plans to forge new partnerships with international entities to secure additional financing and address developmental challenges facing the port. Rosas outlined these goals during a meeting in Lobito, Benguela province, with the team from the Committee for Foreign Affairs of the United States House of Representatives (HFAC). He expressed hope that the visit by the American deputies would validate the

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Local News

New Aluminum Processing Plant to Bring 3,000 Jobs to Bengo Province

26, June, 202426, June, 2024

An aluminum processing industry with an annual capacity of 100 thousand tons will be constructed in the Barra do Dande Free Trade Zone, Bengo province, at a cost of US$200 million. The initiative, led by the Chinese company Wutong Group, will occupy a 400-hectare site, according to sources from the Angola-China Chamber of Commerce reported by JA Online. The project, slated to create approximately three thousand jobs by 2027, saw its ceremonial cornerstone laid in

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Diamonds Economy Local News

Angola’s Diamond Production Surpasses 4.18 Million Carats, Focus on Mining Sector Development

25, June, 202425, June, 2024

Angola’s diamond production reached 4.18 million carats between January and May this year, as reported by the Ministry of Mineral Resources, Oil and Gas via Jornal de Angola. During the 14th thematic session “Communicate for Angola,” which centered on the Program for Development and Modernization of Geological-Mining Activities (2023/2027), Secretary of State for Mineral Resources, Jânio Correa Victor, emphasized the need to attract national and foreign investment. This initiative aims to boost diamond production and

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