AngolaEconomy

Sonangol, Angola's oil company, buys Pumangol

Angola’s state-owned oil company Sonangol announced the conclusion of the acquisition process of Pumangol. It all began on 16 April, with the sale of the state-owned company’s shares in Puma Energy to Trafigura The operation involved the sale of…
EconomyPortugal

Sao Tome's first oil drilling to occur in 2022

The first oil drilling in Sao Tome and Principe will take place on March 2022, in block 6 of the exclusive economic zone operated by the consortium made up of Anglo-Dutch oil company Shell and Portugal’s Galp, an official source said “This operation will last…
EconomyMacao

Oil, stocks plummet in Asia and Europe as new variant emerges

Markets in Asia and Europe as well as oil prices plunged while safe havens rallied on Friday over fears of a new coronavirus variant that scientists warn could be more infectious than Delta and more resistant to vaccines, potentially dealing a heavy blow to the global…

Oil sales bring Angola more than expected

In November of this year, oil revenue reached 3.4 billion Kwanzas (AKz), a value higher than the forecast of the Revised General State Budget (OGE) 2020. The forecast of the Revised OGE is AKz 2.9 billion, amount from oil, at an average price of $ 33 per barrel. The…
AngolaEconomy

Oil potential in Angola is 40 billion US $

Angolan companies in the oil sector only take advantage of around 10 percent of the potential estimated at US $ 40 billion that the national industry moves annually. According to the founder and director of PetroAngola, Patrício Quingongo, the recent Law on Local Content…