Angola will produce more than 2 million barrels of oil per day from 2018, when gross domestic product (GDP) growth will be two tenths of a percentage point above the government forecast of 3.3 percent this year, according to the Economist Intelligent Unit (EIU).
The EIU projects oil production will grow continuously between 2016 and 2020, with minimal increments, but enough for … More
The Angolan government plans to restructure national oil company Sonangol with a view to “increasing efficiency and profits,” said Wednesday in Luanda the Oil minister.
José Maria Botelho de Vasconcelos said that Sonangol would continue to focus its attention on oil exploration and production, while two new structures – an Agency and the Superior Council – would focus on regulation and management.
The agency to … More
The United Kingdom has decided to suspend financial aid to Mozambique, following the example of the International Monetary Fund (IMF) and the World Bank, after the country admitted to taking on US$1.4 billion in loans that it failed to report, the BBC reported Thursday.
The British TV station, which cited a statement from the Department for International Development, said that the unreported debts … More
Mozambique’s public debt, including guarantees issued by the government and debts incurred by the central bank to finance the balance of payments, reported on 31 December 2015, was US$11.64 billion, the country’s Prime Minister said Thursday in Maputo.
Carlos Agostinho do Rosario said that of that total US$9.89 billion corresponded to foreign debt, including US$247 million of the Bank of Mozambique and domestic … More
Angolan bioenergy company Companhia de Bioenergia de Angola (Biocom) will be producing at full capacity in 2021, the Deputy Director of the company, Luis Bagorro Junior said Thursday in Malanje.
The Deputy Director said the company currently covers an area of 81,000 hectares, of which 71,000 are devoted to agriculture and 11,000 to environmental protection and said some sugarcane had been harvested since the … More