Tag: Oil & Gas

Angola Oil & Gas 2024 {https://angolaoilandgas.com/} will host a networking event on March 19 in Houston in collaboration with Angola’s national concessionaire and industry regulator, the National Oil, Gas & Biofuels Agency (ANPG). Speakers are expected to highlight the significant opportunities Angola’s oil and gas sector continues to offer investors across the entire value chain, but particularly in exploration and production.

Angola, a prominent player in Africa's oil production, is poised to maintain a consistent output of around 1.1 million barrels per day in 2024. Amidst the progress of billion-dollar gas initiatives, advancements in the renewable energy, power, and infrastructure sectors are also underway, with several projects anticipating a commencement in 2024.

Fueled by escalating global demand and an expansive, yet largely untapped, resource portfolio, Africa is on the brink of a transformative shift in its energy sector. Foreign investors are keen to leverage diversified supply chains, while African governments' initiatives to boost industrialization and economic growth present a new array of opportunities for financiers and project developers

Angola has recently declared its intention to exit the Organization of the Petroleum Exporting Countries (OPEC) effective January 1, 2024. This decision follows similar moves by Ecuador in 2020 and Qatar in 2019, signaling a notable shift in the global oil industry landscape.

In a concerted push to rejuvenate exploration and drive new discoveries, both mature and emerging hydrocarbon markets across Africa are intensifying exploration efforts through planned and ongoing licensing rounds in 2024. These bid rounds are poised to propel the continent's exploration and production sectors, positioning Africa as a global exploration hub and ushering in a new era of industry growth and innovation.