Angola leaves OPEC and increases oil production
07/05/2024
Angola, having withdrawn from OPEC, is raising renewed hopes in Asia thanks to its increased oil production, offering greater flexibility in regional supply.
Angola, having withdrawn from OPEC, is raising renewed hopes in Asia thanks to its increased oil production, offering greater flexibility in regional supply.
In line with OPEC+ guidelines, Iraq and Kazakhstan rectify their oil overproduction.
CNOOC is focusing on domestic exploration and expanding its international business, while moving cautiously ahead with the energy transition.
After thirty years of inactivity, Angola’s Kwanza Basin is back in oil production, thanks to positive drilling results in Block KON-11.
In 2023, global energy markets experienced a surprising dynamic: a significant drop in oil prices and a drastic fall in natural gas prices.
With prices stagnating despite production cuts, OPEC+ is facing internal and external challenges, calling into question its historic influence on the oil market.
Against a backdrop of underinvestment and security challenges, West African oil producers, notably Nigeria and Angola, face a crucial turning point for 2024
OPEC+ is committed to further voluntary cuts in oil supply, an ambitious strategy aimed at stabilizing the market in an uncertain economic climate.
Total has started oil production at Zinia Phase 2. This short-cycle project is located offshore Angola, in Block 17. Total is thus reaffirming its central energy position in the country.
Hydroelectric projects in Africa are multiplying, exploiting the continent’s wealth of water resources. Find out more about our biggest current projects.
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