Angola | Egypt Oil & Gas - Part 12
Angola Economy Reeling from Low Oil Prices
Angola, Africa’s largest crude producer after Nigeria, is facing extreme austerity measures as it deals with the fallout of low oil prices, reported Bloomberg. This fiscal year’s budget has already been cut by 25%, wi...
GE Strikes $2.5 Billion African Orders From Oil to Locomotives
General Electric Co. booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola. That figure is $500 million more than ...
Angola’s Sonangol Plans $1 Billion on Cost Savings
Sonangol EP, the state-run oil company in Angola, is seeking $1 billion in cost savings by the end of the year to help cope with plunging crude prices. The company plans to renegotiate contracts with partners and prob...
Angolans Resentful as China Tightens its Grip
When a halving of oil prices left a gaping hole in Angola’s finances this year, it became clear sub-Saharan Africa’s third largest economy needed help fast – and President Jose Eduardo dos Santos kne... Angola President Seeks More Non-Oil Deals with China
On a six-day trip to China that ends tomorrow, Angola’s President Jose Eduardo Dos Santos has pushed to broaden his nation’s relationship with China beyond a dependence on oil. Earlier this week, Dos Santos and Presid... Angola’s dos Santos Seeks Opportunities in China
Angolan President Jose Eduardo dos Santos met Chinese counterpart Xi Jinping on Tuesday on a state visit to seek financing for projects, including a $4.5 billion hydropower scheme, intended to revive an economy hit by...
Total Announces Two Billion Barrels on Offshore Angola
Total has achieved the significant milestone of producing a cumulative two billion barrels from its operated deep offshoreBlock 17 located 150 km off the coast of Angola. With the recent start up of CLOV, Block 17 has...
BP Lifts Force Majeure on Angola’s Saturno
BP has lifted a force majeure on exports of Angolan Saturno crude oil, traders said on Tuesday. Traders said new loading programmes for late May and June had been issued with three to four days of delay from the initi...
