Government clarifies unions on reform of fuel subsidies

News from Angola – A delegation of State Secretaries from different ministries held today, in Luanda, a clarification and consultation session with trade unions on the program to reform fuel subsidies, which culminated in the adjustment of the price of gasoline. During the session that took place at the Aníbal de Melo Press Centre, the […]

Governments around the world take steps to cut fuel subsidies and boost their economies

News from Angola – On the global stage, governments are facing the challenge of balancing their budgets and promoting sustainable economic growth. One of the measures adopted by several nations is the cut in fuel subsidies, which have a significant impact on public finances and the well-being of the population. Venezuela’s immense and tragic economic […]

Fuel subsidies: the opportunity to reallocate resources to social programs

Angola news – Fuel subsidies represent a considerable share of the General State Budget (OGE). In 2022, more than 2.15 billion kwanzas were spent on this section, 60% more than in the previous year, according to the annual report released by the State Assets and Capital Management Institute (IGAPE). This value, it should be noted, […]

Nigeria announces end of fuel subsidies to ease government finances

By: BBC News from Angola – In his first speech as president of Nigeria, Bola Tinubu declared this Tuesday the end of the decades-long subsidy for petroleum products in the country. The move aims to ease pressure on public finances and put funds into public infrastructure and improve the lives of the Nigerian people. There […]

Europe replaces Russian diesel with supplies from the Middle East and America

The EU succeeds in replacing diesel shipments from Russia, which was the bloc’s largest external supplier ever, before the seaborne import ban began in February. The success comes as a relief to governments across the continent, after Russia often accounted for more than half of all shipments delivered to the EU and UK, and the […]

“Traditional fuels must be eliminated”

The group, led by the Netherlands, Chile and New Zealand, wrote in the letter – reported by Reuters: “We have to end the age of fossil fuels, we have to phase out fossil fuels. We ask you to take a leading role for the sake of the common cause in reaching an agreement on this […]

Five-year record: Latvia’s leading fuel trader has increased profits

The net turnover of the fuel trader SIA “Neste Latvija” in 2022 was 566.85 million euros, which is 47% more than the year before and which can be explained by the record high prices of oil products during 2022. Profit after tax was 15.35 million euros last year, maintaining the company’s profitability at the level […]

The Emiratis are closest to winning the Egyptian “Wataniya” and “Safi” deals

Emirati companies have approached the purchase of shares of no less than 20% to 25% of the National Company for the Sale and Distribution of Petroleum Products “Watania” and the National Company for Natural Water Bottling “Safi”, according to 3 people familiar with the file of the privatization of companies in Egypt by “East Economy”. […]