The International Energy Agency (IEA) has predicted that Angola will overtake Nigeria and become sub-Saharan Africa’s largest oil producer in 2016, and is likely to remain at the top until the mid 2020s.
The prediction comes despite Angola experiencing a decline in production, due to a series of technical challenges, and a two year delay until the country reaches its desired production target of two million barrels a day.
Nigeria is facing significant challenges in its oil industry, with estimates that oil losses run at 150,000 barrels per day. Instability in the Niger Delta and delays to the Petroleum Industry Bill are also understood to be having an impact on production.
Source: Angola Monitor Issue 4/14
The Angola Monitor covers the politics, economics, development, democracy and human rights of Angola. It is published quarterly by Action for Southern Africa (ACTSA).
This issue covers:
Political News: State of the Nation; Census figures announced; Local government elections delayed; Falling oil prices reduce public spending; Angola elected to UN Security Council; Luanda gets new governor.
Economic News: Angola set to become largest oil producer in sub Saharan Africa; US regulator may bring charges over alleged oil corruption; Government reduces fuel subsidies; Major telecommunication upgrade announced; National airline TAAG enters partnership with Emirates; Government bond rating upgraded.
Human Rights News: Amnesty International accuse government of demonstration ban; Final refugees returning to Angola; NGOs call on SADC to address human rights violations; Government claims it respects free speech and the right to protest.
Aid and Development News: Redevelopment of Angola’s largest railway complete; European Union invests 20 million Euros in landmine clearing; Drought response receives support from Japan.
This issue is also available in Portuguese.
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