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Angola
Frictions with Saudis behind Luanda's OPEC exit

Angolan Oil Minister Diamantino Azevedo in Vienna, Austria, on 5 March 2020. © Alex Halada/AFP

Angola's turbulent relations with Saudi Arabia within OPEC were a decisive factor in João Lourenço's decision to pull out of the cartel of oil-producing countries. [...]

Published on 05/01/2024 at 05:40 GMT Reading time 2 minutes

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Energy

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Angola
Abdulaziz bin Salman
Diamantino Azevedo
Ferrangol
IHS Markit
Joao Lourenco
Khaled Al Faleh
Mohammed Barkindo
OPEC
Rystad Energy
Saudi Aramco
Wood Mackenzie

Spotlight | Angola
Lourenço angles to retain TotalEnergies, Azule, Chevron and ExxonMobil

Luanda has introduced a range of fiscal measures to reverse the steep decline in oil production and encourage investment in an industry which has been struggling for the best part of a decade.

Subscribers only Energy 17.05.2024

Angolan president João Lourenço during the 2024 US-Africa Business Summit in Dallas, Texas, on 7 May 2024.

Angola
Saudi Arabia finally prepares to appoint ambassador to Angola

Saudi Arabia is about to name an ambassador, but still hasn't chosen a location for its embassy. The process is lagging, as tension abounds between Luanda and Riyadh.

Subscribers only Diplomacy 26.03.2024

Africa
OPEC launches African charm offensive

With half of its members from Africa, the Organization of the Petroleum Exporting Countries can't afford to lose any more countries from the continent. But like Angola, which recently left the group, other African members are protesting against production quotas and Saudi Arabia's omnipotence in the Vienna-based cartel.

Subscribers only Energy 06.02.2024

OPEC Secretary General Haitham al-Ghais.

Angola
Russia strives to keep a foothold in oil and defence

As its relations with Washington warm, Luanda is trying to cut its longstanding energy and military ties with Moscow.

Subscribers only Defence, Energy 15.01.2024

Angola
ExxonMobil wins more time before drilling in blocks 44 and 45

US oil major ExxonMobil has obtained permission from the Angolan authorities to extend the initial exploration period for the blocks it operates in the Namibe Basin by twelve months.

Subscribers only Energy 16.11.2023

Angola, Ivory Coast
Sonangol struggles to withdraw from Ivory Coast

The Angolan oil company wants to sell its 20% stake in Société Ivoirienne de Raffinage (SIR). The Ivorian state, SIR's majority shareholder, hopes to buy the shares but negotiations are complex. The matter is being handled directly by President Alassane Ouattara.

Subscribers only Energy, Southern Africa and islands 17.10.2023

Spotlight | Qatar
Qatari sovereign fund hones its Africa strategy

Qatar's sovereign wealth fund is well used to investing billions of dollars in Europe and the United States, but it seems to be having more difficulty finding its feet in Africa. However, a recent tour across the continent by its representatives helped open up new perspectives and consolidate existing deals.

Subscribers only Business, Diplomacy 10.10.2023

Rwanda's President Paul Kagame is welcomed by Emir of Qatar Sheikh Tamim Bin Hamad Al Thani in Doha, Qatar, on 21 March 2023.

Angola
Block 20: Petronas and TotalEnergies' honeymoon period continues in offshore

Attracted by the announcement that production will soon begin on Block 20, Petronas has acquired a 40% stake in the asset from French major TotalEnergies.

Subscribers only Energy 15.09.2023

Spotlight | Angola, DRC
Kinshasa still soft-pedalling on contentious oil blocks run by Angola despite $78bn loss

Angola has benefited enormously from oil blocks located partly in a maritime zone to which Kinshasa could lay claim, according to a confidential report financed by the World Bank and submitted to President Félix Tshisekedi's office.

Subscribers only Energy 22.03.2023

President of Democratic Republic of the Congo, Felix Tshisekedi, with President of Angola, Joao Lourenco, the 5th of February 2019.

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Angola
Abdulaziz bin Salman
Diamantino Azevedo
Ferrangol
IHS Markit
Joao Lourenco
Khaled Al Faleh
Mohammed Barkindo
OPEC
Rystad Energy
Saudi Aramco
Wood Mackenzie

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Frictions with Saudis behind Luanda's OPEC exit

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Set up email notifications for these topics

Spotlight | Angola
Lourenço angles to retain TotalEnergies, Azule, Chevron and ExxonMobil

Angola
Saudi Arabia finally prepares to appoint ambassador to Angola

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OPEC launches African charm offensive

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Block 20: Petronas and TotalEnergies' honeymoon period continues in offshore

Spotlight | Angola, DRC
Kinshasa still soft-pedalling on contentious oil blocks run by Angola despite $78bn loss

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Indigo Publications' websites

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Indigo Publications' websites

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Angola Frictions with Saudis behind Luanda's OPEC exit

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Set up email notifications for these topics

Spotlight | Angola Lourenço angles to retain TotalEnergies, Azule, Chevron and ExxonMobil

Angola Saudi Arabia finally prepares to appoint ambassador to Angola

Africa OPEC launches African charm offensive

Angola Russia strives to keep a foothold in oil and defence

Angola ExxonMobil wins more time before drilling in blocks 44 and 45

Angola, Ivory Coast Sonangol struggles to withdraw from Ivory Coast

Spotlight | Qatar Qatari sovereign fund hones its Africa strategy

Angola Block 20: Petronas and TotalEnergies' honeymoon period continues in offshore

Spotlight | Angola, DRC Kinshasa still soft-pedalling on contentious oil blocks run by Angola despite $78bn loss

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Mali, Senegal, Togo
The secrets of Demex, the trader selling Russian oil in West Africa

Angola
Frictions with Saudis behind Luanda's OPEC exit

Spotlight | Angola
Lourenço angles to retain TotalEnergies, Azule, Chevron and ExxonMobil

Angola
Saudi Arabia finally prepares to appoint ambassador to Angola

Africa
OPEC launches African charm offensive

Angola
Russia strives to keep a foothold in oil and defence

Angola
ExxonMobil wins more time before drilling in blocks 44 and 45

Angola, Ivory Coast
Sonangol struggles to withdraw from Ivory Coast

Spotlight | Qatar
Qatari sovereign fund hones its Africa strategy

Angola
Block 20: Petronas and TotalEnergies' honeymoon period continues in offshore

Spotlight | Angola, DRC
Kinshasa still soft-pedalling on contentious oil blocks run by Angola despite $78bn loss