Angola readies for major oil and gas changes

With the government steering an overhaul of its oil and gas sector, the west African country is looking to remain competitive despite declining oil production levels

The 2018 developments in Angola's oil and gas sector and overall political environment provide insight into the path the industry may be treading in the years ahead and offer initial promise that change is coming. Angola's role as a key player in the African oil and gas space has suffered from low oil prices in recent years and a production decline, which have put a strain on the public budget. The recent recovery of oil prices has provided short-term relief, but does not obviate the need for continued political, legal and economic reform. President João Lourenço's efforts to reorganise the public sector and the oil and gas industry, and to streamline foreign investment procedures, are encou