Nigeria output at multi-decade low, Angola close to the nadir of the early 2000s: S&P Global Nigeria, Angola show biggest over compliance to quotas among OPEC producers Persistent underinvestment, low Continue Reading
BP and Eni have formed a new independent company named Azule Energy through the combination of the two companies’ Angolan businesses. BP and Eni have signed an agreement to form Continue Reading
Eni and BP have completed a deal to merge their oil and gas operations in Angola, the groups said on Friday, confirming what sources earlier exclusively told Reuters. The deal Continue Reading
CLOV development offshore Angola. TotalEnergies, together with the Angolan National Oil, Gas and Biofuels Agency (ANPG), started production of CLOV Phase 2, a project connected to the existing CLOV floating Continue Reading
Angola’s crude oil production is set to reach 1.3 million barrels per day, according to the Organisation of Petroleum Exporting Countries (OPEC). The decision is expressed in its production table Continue Reading
Sub-Saharan Africa, especially its largest oil producers Nigeria and Angola, will struggle to raise oil output through the middle of this decade, as international majors are shifting their investment priorities, Continue Reading
Angola owes foreign oil field operators some $1 billion, Reuters has reported , citing unnamed sources, adding this level of debt had forced the country to put up stakes for Continue Reading
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing international oil companies to reconsider their exorbitant Continue Reading
Italian firm Eni has made a new light oil discovery off the coast of Angola after exploration activities recommenced following a year of pandemic restrictions. The discovery, made on Tuesday, Continue Reading
The decline of Angola, from being Africa’s top crude producer five years ago to barely pumping more than war-torn Libya today, shows the heavy toll of a slump in oil-industry Continue Reading
The sub-Saharan country of Angola is not one which readily springs to mind when thinking about oil producing nations. The deeply impoverished former Portuguese colony, which is an OPEC member Continue Reading
Africa’s second-largest oil exporter Angola has received approval from the International Monetary Fund for a disbursement of over $480 million under a $3.7-billion loan agreement as it continues to struggle Continue Reading
There seems to be a point of saturation when it comes to assessing Angola’s crude exports for the upcoming months – beyond a certain point it serves as no surprise Continue Reading
OPEC producer Angola plans to raise much-needed cash via selling a stake in its state oil firm Sonangol by early 2022 as the crash in oil prices—and the pandemic—severely weakened Continue Reading
Angola, Africa’s second-largest oil producer after Nigeria, will need foreign and government investments to discover up to 57 billion barrels of crude oil by 2025, according to a new energy Continue Reading
Angola is not too keen to compensate for its loose compliance with the OPEC+ cuts by making deeper production cuts in Q3, Reuters reported on Thursday, citing sources in the Continue Reading
Stuck midway in reforming its energy sector by chopping down unnecessary assets and optimizing the national NOC’s role vis-à-vis the government, Angola has endured a lot of strain in the Continue Reading
Angola is reducing oil shipments to China with which it pays part of its debt to its biggest creditor as the African OPEC member looks for debt relief from its Continue Reading
The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest Continue Reading
After years of declines in crude oil production, one of OPEC’s largest African producers, Angola, is finally about to see its production rising in the coming years, with several new Continue Reading
Total will drill an ultra deepwater well off the coast of Angola that will be the deepest in the world, Bloomberg reports , citing Maersk Drilling, which has been hired Continue Reading
If someone had reported that Angola was preparing its state oil company for privatization three years ago, many would have laughed refused to believe it. In 2016, Sonangol was in Continue Reading
Angola plans to launch a renewable energy auction that could help reduce reliance on oil, after one of its worst fuel shortages in May, energy secretary Antonio Costa said on Continue Reading
Angola’s steep decline in crude production over the past three years has been tough to ignore. The government led by President Joao Lourenco has unearthed a plan that includes tendering Continue Reading
African crude oil sales into China, the world’s biggest importer, have stalled as buyers wait for spot sale offers from top supplier Angola to fall in line with slumping benchmark Continue Reading
The President of Angola Joao Lourenço has fired Sonangol CEO Carlos Saturnino, as well as the whole board of directors. Now there are several things which seem wrong at first Continue Reading
Italy’s oil and gas major Eni said on Tuesday that it had made a new discovery in Angola’s deep offshore estimated to contain up to 250 million barrels of light Continue Reading
The head of state energy giant Sonangol is replaced just as the company plans extensive asset divestments. There is ample precedent indicating that Angola?s new ruling elite is seeking to Continue Reading
Highlights Currency crunch sparks fuel crisis Crude output continues to slump London — Angolan president Joao Lourenco began a major shake-up at state-owned Sonangol Thursday, dismissing Carlos Saturnino as chairman Continue Reading
The state oil company of OPEC member Angola, Sonangol, plans to sell off stakes in dozens of joint ventures and cut jobs in order to focus on its core exploration Continue Reading
Production outages and maintenance are set to push Angola’s oil exports to a 13-year low, according to an industry source quoted by Reuters. There are just 38 oil cargoes scheduled Continue Reading
French supermajor Total said on Tuesday that it had started up production at the Kaombo Sul oil development, adding 115,000 bpd to bring Total’s overall production capacity to 230,000 bpd, Continue Reading
A gas shortage in Angola, one of Africa’s leading oil producers, means drivers in the capital Luanda have to form lengthy queues to fill up their tanks. The shortages are Continue Reading
Italy’s oil and gas major Eni said on Wednesday that it had made a major oil discovery in Angola’s deepwater in a find that could help the African OPEC producer Continue Reading
With production declining and investment scarce, the Angolan leadership has put in place a number of new policies to reboot its oil industry and propel economic development. However, those changes Continue Reading
On Saturday, nearly two decades after securing the initial rights, Total’s CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It’s not clear Continue Reading
It is quite rare for African national oil companies (NOCs) to liberalize, especially in countries that are heavily dependent on oil revenues. Yet Angola, whose stability was sent reeling by Continue Reading
The latest discovery of oil in the deep waters of OPEC-member Angola could hold as much as 300 million barrels of oil, Italian energy company Eni said. Eni discovered oil Continue Reading
Economic recovery for Angola, an OPEC member coping with declining production, is progressing but it’s still uncertain over the long term, the International Monetary Fund found. IMF data show Angola’s Continue Reading
Total announced it’s made a $1.5 billion final investment decision to get more oil out of a field in the deep waters off the coast of OPEC-member Angola. File Photo Continue Reading
OPEC member Angola is halving the tax rates on development of oil discoveries with less than 300 million barrels of reserves as new President Joao Lourenco is trying to incentivize Continue Reading
The minister of Mineral Resources and Oil, Diamantino Azevedo, on Monday in Porto Amboim, central Cuanza Sul Province, admitted that the decline in crude-oil production was caused by the substantial Continue Reading
Reaching a production plateau off the coast of Angola stabilizes output at more than 150,000 barrels of oil per day, Italian energy company Eni said. The company said Wednesday it Continue Reading
Angola’s crude exports fall to lowest since at least 2008 OPEC disruptions could send prices above $80 a barrel: BofAML While plunging output in Venezuela captures the oil world’s attention, Continue Reading
Africa’s second-largest oil producer Angola is seeking non-financial assistance from the International Monetary Fund (IMF) to help it with reforms aimed at revitalizing the economy that has suffered from low Continue Reading
With production close to a two-year low, presidential action in OPEC-member Angola has the potential to reverse a steady decline, analysis finds. “Low oil prices and the fact that the Continue Reading
Production has started in an area that revealed more than 3 billion barrels of oil in place off the coast of Angola, Italian energy company Eni said. Eni and Angolan Continue Reading
Even as OPEC-member Angola continues to comply to bloc-wide crude production cuts, its progress on its first offshore oil project remains unhindered, according to a new report by Reuters. Total, Continue Reading
Angola has been OPEC’s second most compliant member with regard to the 2016 oil production cut deal, but just like the number-one compliant member, Venezuela, this prestige does not come Continue Reading
Heavy rains, filthy conditions, medicine shortages and endemic corruption have combined to make a lethal malarial cocktail for Angola. Since the start of the year, more than 300,000 cases of Continue Reading
