Sonangol income halves in 2019
Sonangol posted net income of $125 million for 2019, while EBITDA reached $4.78 billion up 10% year on year.
Angola
New onshore study launched ahead of Angola round
Trois Consulting and DDMS have announced the offering of a fully integrated geological and geophysical study for onshore exploration in Angola.
Chad asks to suspend payments on Glencore oil-backed loan
Chad asked Glencore to suspend payments on its oil-for-cash loan this year, a move that could prove a precedent for private creditors worried about being dragged into a global debt-relief push for poor countries.
DOF Subsea wins Angola vessel work
DOF Subsea has won an integrated field support vessel (FSV) contract from an unnamed IOC in Angola.
Africa on the rise
The energy sector in Sub-Saharan Africa faces numerous challenges, but there is also an increasing sense of urgency and opportunity for the development of the industry on the continent.
BP celebrates Greater Plutonio milestone
BP’s Greater Plutonio floating production, storage and offloading (FPSO) vessel offshore Angola has produced 600 million barrels of oil.
Dalia FPSO passes billion-barrel milestone
The Dalia floating production, storage and offloading (FPSO) vessel has produced 1 billion barrels of oil, offshore Angola.
Work begins resuming offshore Angola
Angola is making progress on its reform plans, issuing tenders for work, while Total is moving to restart offshore drilling.
Sonamet completes testing on Zinia flowlines
Angolan contractor Sonamet has completed factory acceptance tests on all flowline structures for the next stage of work on the Zinia field.
BP backs away from frontier exploration
Despite challenges thrown up by the coronavirus outbreak, BP’s production in Africa was largely unchanged, although exploration and development has been pushed back.
Oceaneering wins Angola work
Oceaneering has won inspection work in Angola from a Chevron subsidiary.
African rig count plummets, while Middle East holds up
Africa has been the hardest hit region in terms of rig numbers, according to Baker Hughes’ May data.
Gemcorp plans FID for Angola refinery this month
Gemcorp has completed preliminary work preparing a site in Angola for the construction of the Cabinda oil refinery.
China eyes African opportunities
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
Angola in debt talks with oil importers
Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
WATCH: Working for BP offshore Angola during Covid-19
BP engineer Arlette Giron Paiva lifts the lid on her experience of working offshore Angola during the Covid-19 pandemic. Arlette is away from her husband and son for six weeks at a time, with two weeks spent in isolation in a hotel with her crewmates before heading to the Greater Plutonion FPSO for four weeks.
ANPG warns of pandemic impact on licence round
Angola’s Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has released details on new blocks available for bidding this year but warned there may be delays as a result of the coronavirus pandemic.
Sonangol signs up to drill wells in Cuba
Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
MEA banks under oil price pressure
Middle East and African banks face mounting pressure from the gathering macroeconomic storm and oil price pressure, Fitch Ratings has said.
Nigeria and Angola face oil price squeeze
Nigeria and Angola face particular pressures as a result of the oil price crash, a new report from Verisk Maplecroft has warned.
Nigeria faces involuntary output cuts
Nigeria is moving towards production cuts as a result of a lack of local storage and inability to sell cargoes.
Piracy on the rise in Gulf of Guinea
Piracy increased in the first quarter of 2020, with the Gulf of Guinea continuing to hold its position as the most dangerous waters in the world.
Fudging the OPEC+ deal numbers
“Baselines matter” is one takeaway from the deal brokered over the weekend to save the market.
Angolan production declines bite deep
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.
PGS completes Kwanza shoot
PGS has completed the acquisition of 3D seismic on Angola’s Kwanza shelf, which will be used in the country’s 2021 licence round.