Angola is aiming to sustain its crude oil production above 1 million barrels per day as it seeks to counterbalance declines from aging fields. The African nation, which is the third-largest oil producer on the continent, outlined this goal during President João Lourenço’s annual state of the nation address in Luanda.
The oil and gas sector continues to be a cornerstone of Angola’s economy and public finances. President Lourenço emphasized that the sector has been taking steps to ensure output remains above the 1 million barrel threshold.