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Oil block in Angola has accumulated production of 2 billion barrels

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The accumulated production of Block 15 in the Angolan sea has reached 2 billion barrels since it started operating in 2003, Angolan state oil company Sonangol said in a statement issued in Luanda.

“Achieving these significant numbers is the result of seventeen commercial discoveries, which have made Block 15 one of the most successful offshore oil concessions in West Africa,” said the More

National Bank of Angola carefully manages foreign reserves

The National Bank of Angola (BNA) is carefully managing net foreign reserves, estimated at US$24 billion, on the basis of a minimum amount to ensure financial and exchange rate stability, the governor said when speaking in the Angolan parliament.

Valter Filipe said the BNA is working with commercial banks to understand the level of assets of each bank and its foreign exchange More

Largest Special Economic Zone in Angola opens up to private investors

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The largest Special Economic Zone in Angola, the Luanda-Bengo SEZ (ZEELB), which was built with the support of China, will open most of its industrial units to private investment in an effort to rationalise resources and stimulate economic diversification.

The latest investment project in the ZEELB belongs to CITIC Construction (Angola), which will invest US$40 million in an aluminium smelter to reduce imports of this material, with a positive impact on Angola’s balance of trade. More

Port of Luanda, Angola, handles less cargo, containers and ships in the 1st half

The port of Luanda in the first half of the year handled 3.1 million tonnes of containerised cargo, a drop of 35% or 1.7 million tonnes over the same period of 2015, according to an official from the infrastructure management company.

Rosas Silverio, head of the statistical control and logistics department of the Port of Luanda, told Angolan news agency Angop that More

Montepio Geral transfers assets in Angola and Mozambique to holding company Arise

Montepio, a Portuguese mutual bank, will join Arise, a company set up by banks supporting the Norfund development fund of Norway and FMO of the Netherlands and by the Rabobank banking cooperative, Portuguese daily financial newspaper Diário Económico reported.

Arise is a holding company (SGPS) that brings together the holdings of each institution in the African market, which according to a source More

Angola is the largest supplier of oil to China in July

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Angola overtook Saudi Arabia and Russia last July to become the main supplier of oil to China for the first time this year, according to figures from the Chinese Customs authority.

In July, China imported 4.72 million tonnes of oil from Angola, or 1.11 million barrels per day, a figure which represents annual growth of 23.3%.

During the first seven months of the More