- Angola aims to increase oil production to over one million barrels per day
- Experts caution about economic pressures without increased refining capacity
Luanda, Angola – The National Agency for Oil, Gas, and Biofuels (ANPG) plans to grant 15 new oil exploration licenses by the end of this year, aiming to boost Angola’s production to over one million barrels per day. However, experts warn that granting these licenses without a corresponding increase in production capacity could exacerbate pressure on the Angolan economy due to the scarcity of foreign currency. The strategy for granting licenses, initiated in 2019 and set to continue until 2025, targets a total of 50 concessions.
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