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
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive