Capable of carrying one million oil barrels, the tanker is set for delivery in March 2023, bringing ‘significant benefits to Angola’.
Angola
Drop in oil price led to reappraisal of economic relationship; old partners, like Brazilian conglomerate Novonor, gradually return to sub-Saharan republic.
Lowering debt burden seen as substantial victory for ruling party in run-up to elections later this year.
Following clashes with police in May that left two workers dead, contractor agrees to improve working conditions.
US$200 million deal to fly cargo on bi-weekly route from China to Brazil via Angola is also a good omen of new Luanda airport which opens in 2023.
Independent refineries in Shandong import less than half July 2020 tonnage as cheaper barrels from Russia and Iran edge out Brazilian crudes.
Estimated US$2.7 billion invested by 48 countries in mining, telecommunications, civil construction, education, health, tourism, fishing and agriculture, among others.
Analysts estimate sale could raise 700 million euros, which could be earmarked for low-carbon projects.
IMF predicts marginal economic improvements for other Portuguese-speaking countries, forecasts 8.2% inflation for Brazil.