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Angola Navigates Oil Export Challenges in Early 2024
In the bustling first quarter of 2024, Angola saw a significant shift in its oil industry, exporting 94.4 million barrels of crude oil.
This marked...
Angola Eyes 2.8% Economic Growth Balancing a 2.5% Decline in Oil Production
The World Bank projects Angola's economy to grow by 2.8% this year, a significant increase from last year's 0.8%.
This growth is driven by the...
Angola Faces Steep Drop in Current Account Amid Oil Export Slump
In 2023, Angola saw its current account surplus dramatically decrease by 64.2% from the previous year, ending at $4.2 billion.
This significant shrinkage was mainly...
Angola’s New Direction in Oil
In 2024, Angola will take a significant step in its oil industry by increasing production to 1.2 million barrels per day.
This decision, marking its...
Angola’s Oil Production and Revenue Trends in 2023
In 2023, Angola's oil production saw a 3.6% drop, reaching 1.09 million barrels daily, as reported by the National Agency for Petroleum and Gas...
Angola’s Move to Boost Oil Production
The Angola Agency for Oil, Gas, and Biofuels (ANPG) selected nine companies for oil block management in the Lower Congo and Kwanza regions.
Additionally, five...
Angola’s Sonangol Reboots Oil Exploration in Cuanza Basin
Angola's state-owned oil company, Sonangol, has successfully drilled a second evaluation well in the Cuanza Basin's Block 11, named 'KON-11'.
This development, announced yesterday, marked...
Angola’s $7.8 Billion Oil Sector Expansion
Angola's oil industry is embarking on a major expansion with three contracts totaling approximately $7.8 billion.
These agreements, involving the National Agency for Petroleum, Gas...
Angola Asserts Independence in OPEC+ Oil Quota Dispute
Angola's representative to OPEC announced that the country has rejected the oil production quota proposed by the organization for 2024.
Angola plans to maintain its...
OPEC+ Navigates Oil Production Dilemmas, Eyes on Angola and Nigeria
OPEC+ met on Thursday to resolve a deadlock on oil production quotas, debating further reductions to stabilize falling oil prices.
Saudi Arabia, a pivotal member,...
Angola Sees High Interest in Oil Block Tender
Angola's National Agency of Petroleum, Gas, and Biofuels (Anpg) received 53 bids for oil exploration.
These bids are for 12 onshore oil blocks in the...
Angolan economy shows limited growth in Q1 2023 as oil prices fall
The Angolan economy experienced minimal growth in the first quarter of 2023, largely impacted by the decline in oil prices.
According to the Angolan National...
Angolan parliament authorizes president to issue tax incentives for oil
The National Assembly of Angola has unanimously approved bills that grant the Angolan President the authority to legislate on fiscal incentives for the concession...
Angola wants to quadruple the weight of the non-oil sector in the GDP
By Adnardo Barros
"Long Term Strategy Angola - 2050" has the assumption of quadrupling the weight of the non-oil economy, pointing out the country's Minister...