Zonk News

Angola Block 14 B.V., owned by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49.99%) holds a 20% interest in block 14 in Angola and a 10% interest in block 14K.

Somoil will acquire the company Angola Block 14 B.V., owned by TotalEnergies Holdings International B.V. (50.01%) and Inpex Angola Block 14 Ltd (49.99%).

The blocks have been produced since 1999. Net production from Angola Block 14 B.V. was 9,000 barrels of oil equivalent per day in 2021.

Henri-Max Ndong-Nzue, Senior Vice President Africa of TotalEnergies Exploration & Production, noted:  “By divesting this interest in mature fields, TotalEnergies is implementing its strategy to high-grade its oil portfolio, focusing on assets with low costs and low emissions.”

“TotalEnergies remains the number one energy player in Angola, through its leading operating position in deep-offshore, its interest in Angola LNG, and in a first solar power plant project, Quilemba Solar, located in the southwest of the country.”

According to Japanese oil and gas explorer Inpex said it is reviewing its asset portfolio amid the global trend toward decarbonization.

Angola used to be Africa’s second-largest oil producer until early 2021 but has seen output tumble to 17-year lows. Crude output has averaged around 1.13 million b/d in 2021, down from a 2008 peak of 1.9 million b/d, according to S&P Global Platts estimates.

Dubai-bound flights from Rwanda were suspended last year on December 27 after the United Arab Emirates banned flights from some African countries over the escalation of a new variant of Covid-19.

“Effective 20 Jan 2022, RwandAir will resume Passenger flights to Dubai for passengers originating from Kigali, Entebbe, Douala, Bujumbura, Accra and

Lusaka” reads a statement by the national carrier.

According to the statement passenger services of RwandAir’s network to Dubai as a final destination remain suspended until further notice.

Rwandan travelers leaving the country’s points of exit must present a Covid-19 vaccination certificate, according to guidelines in place.

Within the new travel injunctions to tame the spread of the pandemic, arriving or departing passengers at Kigali International Airport must present a negative Covid-19 PCR test taken at least 72 hours prior to departure, and a one-day mandatory quarantine.

Rand traded at 15.4300 against the dollar, down around 0.4% from its previous close.

“The global economy finds itself at the starting block of a new monetary tightening cycle, meaning U.S. data, Fedspeak, and the narrative surrounding prospective Fed policy are the central drivers of global capital flows at the moment,” Analysts said in a research note.

Despite the Fed not moving rates at its Jan. 25-26 meeting, an increasing number of hawkish comments are coming from both within and outside the institution.

The Fed is not expected to move rates, but there is a growing drumbeat of hawkish comments coming from within and outside the U.S. central bank.

By the start of 2022, the rand has gained over 3% against the dollar, making it one of the best-performing currencies in emerging markets.

According to analysts at Investec, the rand typically enjoys a bout of seasonal strength around December to February, when most northern hemisphere traders are at work whereas the northern hemisphere summer months usually see less risk-taking.

The South African economic data will be releasing November mining numbers ZAMNG=ECI on Tuesday, December consumer inflation ZACPIY=ECI and November retail sales ZARET=ECI on Wednesday this week.

Entrepreneurs hope the South African Reserve Bank to raise rates for the second time in a row after November when it announces its first monetary policy decision of the year on Jan. 27.