Will Angola Become Africa’s Biggest Oil Producer Again in 2014?
Angola, one of the two main suppliers of oil to China may in 2014 become Africa’s largest oil producer once again, with new wells coming online and production stagnating in Nigeria.
After starting the year at a low, due to technical problems on some oil rigs, Angola’s oil production is recovering, and state oil company Sonangol expects production to reach 2 million barrels a day in 2015.
A recent report by Ecobank Research said that the production increase would be driven by a new project led by French oil company Total, known as CLOV, which will add between 160,000 to 200,000 barrels to daily production.
“Angola can potentially recover its place as Africa’s main oil producer at the end of 2014,” according to the update of the “Energy, Oil and Gas” report.