The Angolan oil sector has reason to smile with export figures more than satisfactory at the end of 2021-beginning of 2022. In the same vein, the historic launch of the very first oil platform in the country will take place next June.
Going by the name "Lifua A", the platform is under construction in the Malongo camp in Cabinda and should be launched into the sea in a few weeks. Supported by the giant Chevron through its local subsidiary Cabinda Gulf Oil Company Limited (CABGOC), the project required a budget of 60 million dollars.
This information was made public during a three-day visit by President Joao Lourenço to Cabinda Province, during which the project was presented to him.
Last February, José Barroso, Angolan Secretary of State for Oil and Gas, while presenting the results of the sector, confirmed the recovery after a terrible year in 2020. The counters showed 27.87 billion dollars in crude oil export revenues in 2021, an increase of 51.4% year on. A total of 394.22 million barrels of crude oil were shipped to Angola's customers around the world, led by China, which bought 71.51%, followed by India (7%), according to the same source.
The project which is part of the upturn in the Angolan oil sector is intended to create 300 direct jobs and will have its entry into production in late 2023.
-AFP
Central Africa
DRC: 14 tribesmen killed by militia in west
The Democratic Republic of Congo (DRC) has killed 14 people, including two traditional chiefs, since...
Southern Africa
Botswana 2024 polls: 'I have to fix the mistake I made in appointing Masisi' - Khama
Botswana’s former president could be a candidate to watch out for in the nation's upcoming general...
Economy
US Vice President Harris promises greater investment for Africa
U.S. Vice President Kamala Harris said on Sunday that the United States will increase investment in ...
East Africa
Hundreds storm ex-President Kenyatta's farm
A huge number of unknown persons on Monday stormed the family farm of Kenya's former president Uhuru...
West Africa
Cameroon: Biya's party wins all Senate seats
The party of President Paul Biya, who has ruled Cameroon for more than 40 years, unsurprisingly won ...
Mining
Jubilee Metals recorded a 20% increase in platinum group metals (PGMs) output from its operations on...
North Africa
Algeria dismantles migrant smuggling network to Europe
Algerian authorities have dismantled an international network of migrant smugglers to Europe through...
Business
Kenya Airways posts record $290M loss despite revenue growth in 2022
Kenya Airways remained loss-making in 2022 with a net loss more than doubling to hit a record Ksh38....
Opinion
CAR: Is beer at the heart of France, Russia's battle for influence?
According to sources familiar with the incident, footage from security cameras allegedly shows a pla...