Capacity up, supply down in Angola
Angola says it has already begun to reduce supply but how and where is unclear
Angola committed to lopping 80,000 barrels a day off its output of 1.75m b/d and already seems to have made the cut. State oil company Sonangol said in early January it had removed 78,000 b/d of supply-although it's not yet clear where or how. The supermajors are well represented in Angola and, of course, were not signatories to any supply deal (though they'd all like a higher oil price). BP produces about 310,000 b/d in Angola; Total just under 290,000 b/d; and Eni about 135,000 b/d. And Angola has had a pretty successful downturn, at least in supply terms. Eni brought output of its West Hub deep-water project to 100,000 b/d, when production started from the Mpungi field in early 2016. The
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
