Speaking to reporters on Sunday, chairman José Severino said the oil industry as well as the civil engineering sectors were hit particularly hard, adding that while the Angolan government’s revenues had halved since June 2015, the outlook for the industry remained positive nonetheless. “Oil prices are rising and the economy will be running in a new macro-environment,” he said.
Severino also urged the government to take the necessary steps to arrest the decline in foreign currency reserves. This, coupled with aid from the IMF, would further improve economic prospects for Angola.
For more news and features on Angola, click here.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.