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Vol 65 No 18

Published 6th September 2024


Angola

Luanda’s oil revival wins more backers after $6bn Kwanza development

President Lourenço courts investors in France, China and the US, to reverse energy sector decline

The Angolan government’s tactics to boost oil and gas investment – cutting production taxes, wooing the biggest conglomerates and quitting the Organization of the Petroleum Exporting Countries (OPEC) – are showing signs of success. A surge of investor interest has followed the final investment decision in May on the US$6 billion Kaminho oil project in the Kwanza basin by France’s TotalEnergies, Malaysia’s Petronas and the state-owned Sociedade Nacional de Combustíveis de Angola (Sonangol).

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