• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 hours Oil prices going Up? NO!
  • 1 day Could Venezuela become a net oil importer?
  • 4 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 3 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 1 day Gazprom Exports to EU Hit Record
  • 8 hours Oil prices going down
  • 11 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 day Oil Buyers Club
  • 2 days Why is permian oil "locked in" when refineries abound?
  • 10 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 2 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 8 hours Saudi Arabia turns to solar
  • 1 day Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 days EVs Could Help Coal Demand
  • 3 hours Are Electric Vehicles Really Better For The Environment?
Oil Markets Turn Bearish Ahead Of OPEC Meeting

Oil Markets Turn Bearish Ahead Of OPEC Meeting

Oil prices fell on Tuesday…

Can Oil Pull Greece Out Of Poverty?

Can Oil Pull Greece Out Of Poverty?

Greece’s withering economy could use…

Angola's State Oil Company Wants to Supply Zambia and Namibia

Sociedade Nacional de Combustíveis de Angola, E.P., or Sonangol, is the Angolan state oil company, with the sole concession for oil and gas exploration in Angola’s subsoil and continental shelf.
 
Sonangol executive Mateus Neto announced that the company intends to construct an oil storage facility in Menongue district in the country’s southern Kuando Kubango province, which, when complete, will enable Sonangol to supply Angola’s entire population, as well as Zambia and Namibia, AngolaPress news agency reported. The facility is projected to become operational in March 2012.
 
Sonangol has been investing some of its oil revenues abroad. On 27 April the Sao Tome and Principe government signed an agreement with Sonangol to  rehabilitate and modernize the country's only port, Ana Chaves, and its sole international airport. According to Sao Tome and Principe Planning and Development Minister Agostinho Fernandes, a private company was created to manage and administer the port and international airport, with Sonangol holding 80 percent of shares and the Sao Tome government retaining the remaining 20 percent.
 
But Sonangol has also experienced recent setbacks, as last month U.S. independent Cobalt International Energy revealed it is to abandon an exploratory well in Angolan waters, Bicuar #1 in Angola’s offshore Block 21 when the initial test bore over pressured water sand with limited quantities of natural gas.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News