Angola boosts efforts to shore up flagging production
Africa's second-largest oil exporter needs more than the currently envisaged pipeline of oil projects if it is to remain a force
Angola is pushing hard to win further investment from both existing and new upstream partners, as it seeks to stave off production declines from its maturing mainstay fields. The coming year should give a good idea of its chances of success, with the first licensing round for eight years planned and direct talks with majors over fresh exploration likely to come to a head. Carlos Saturnino, president of state energy firm Sonangol, has been busy playing up the positives for an oil province that has traditionally proved costly for operators. He insists all Angolan oil projects are profitable with oil trading at $60-70/bl and could survive a return to much lower prices than that. "With oil at $6
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
