BP invests over US$25 billion in oil exploration in Angola

BP Angola, a subsidiary of the BP Group, has invested over US$25 billion since it started oil exploration in the country said the company’s marketing director, Amílcar da Costa.

Speaking to Angolan news agency Angop at the 31st Luanda International Fair (Filda), da Costa said BP was planning to invest US$15 billion over the next few years, both in new oil areas More

Cabo Verde wants excellent economic and business relationship with Angola

Cabo Verde plans to boost its economic and business relationship with Angola, the Cape Verdean Minister for Tourism, Energy and Industry, Humberto Brito said Wednesday in Luanda.

“Given Angola’s high potential it is important to establish partnerships to boost the two-way relations in a variety of sectors,” said the Cape Verdean minister at the opening session of the 31st edition of the More

Angola raises US$2 billion for national reconstruction

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The Angolan government has hired two Angolan banks to set up a financial operation to raise US$2 billion to fund the National Reconstruction Programme, according to a statement from the Finance Ministry.

The statement issued Tuesday said that the government hired Banco Angolano de Investimentos (BAI) and Banco de Fomento Angola (BFA) as “financial consultants” to “structure, set up and intermediate” this More

Angola is the third-largest sub-Saharan financial market

Angola is the third largest sub-Saharan financial market, with assets of US$70 billion, behind Nigeria and South Africa, Angola’s Economy Minister Abraão Gourgel said Tuesday in Luanda.

The minister, who was speaking at the opening ceremony of the 31st edition of the Luanda International Fair (Filda), noted that Angola posted yearly growth of around 3 percent and had a growing middle class, More

Angola’s President wants greater cooperation between Sonangol and Italy’s ENI

Angola plans to boost cooperation between state oil company Sonangol and Italian group ENI with a view to building a refinery and to focus on international expansion, the Angolan President said in Luanda Monday.

At the end of a private meeting with Italy’s prime Minister Matteo Renzi on a 24-hour visit to Angola, President José Eduardo dos Santos said that cooperation should More

Brazil wants to increase exports of goods and services to Angola

Increasing Brazilian exports to Angola is the main aim of the business mission organised by Brazil’s Agency to Promote Exports and Investments (Apex), said Apex spokesman, Rafael Ribeiro.

Ribeiro also said that the trip to Angola, which will focus on business meetings, includes around 30 businesspeople particularly from the machinery and equipment, construction, food, beverages and cosmetics industries.

“In 2013 Brazil exported goods More

Angolan agency signs another 21 investment contracts

Companies from Angola, Portugal, Germany, China, Israel, Eritrea, Hong Kong, the Virgin Island and Mauritius last week signed 21 contracts in Luanda with the Angolan National Private Investment Agency (ANIP), the Angolan press reported.

The 21 contracts are worth a total of US$53.2 million and involve companies from the industrial, commercial, services and agricultural sectors.

At the event to sign the contracts the More

Sonangol’s FPSO named in Porto Amboim, Angola

Angolan state oil company Sonangol’s floating production, storage and offloading platform (FPSO) has been officially named “Ngoma” at the Porto Amboim Estaleiros Navais, Lda. (Paenal) shipyard, in Angola’s Kwanza Sul province, Angolan news agency Angop reported.

At the Paenal shipyard the platform, which is operated by Italian group ENI, received two new modules, one of which with a capacity of 400 tons More