Angola

Coordinates: 12°30′S 18°30′E / 12.500°S 18.500°E / -12.500; 18.500

Angola /æŋˈɡlə/, officially the Republic of Angola (Portuguese: República de Angola pronounced: [ɐ̃ˈɡɔlɐ]; Kikongo, Kimbundu and Umbundu: Repubilika ya Ngola), is a country in Southern Africa. It is the seventh-largest country in Africa, and is bordered by Namibia to the south, the Democratic Republic of the Congo to the north, Zambia to the east, and the Atlantic Ocean to west. The exclave province of Cabinda has borders with the Republic of the Congo and the Democratic Republic of the Congo. The capital and largest city is Luanda.

Although its territory has been inhabited since the Paleolithic Era, modern Angola originates in Portuguese colonization, which began with, and was for centuries limited to, coastal settlements and trading posts established from the 16th century onwards. In the 19th century, European settlers slowly and hesitantly began to establish themselves in the interior. As a Portuguese colony, Angola did not encompass its present borders until the early 20th century, following resistance by groups such as the Cuamato, the Kwanyama and the Mbunda. Independence was achieved in 1975 after a protracted liberation war. That same year, Angola descended into an intense civil war that lasted until 2002. It has since become a relatively stable unitary presidential republic.

Latest News for: Angola oil

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OPEC+ tweaks Nigeria, Angola oil output levels for 2024

Reuters 30 Nov 2023
Nov 30 (Reuters) - OPEC+ handed Nigeria a 2024 oil output target lower than Africa's largest oil producer had hoped for while lowering Angola's target, according to a statement from the group of oil-producing countries ... Angola on Thursday was unhappy with its 2024 output target and does not plan to stick to it, Bloomberg reported....
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OPEC+ cuts oil production in line with Saudi, Russian requests

Al Monitor 30 Nov 2023
The OPEC+ oil cartel decided on Thursday to cut oil ... One point of disagreement was whether Angola and Nigeria should accept reduced output targets in light of their diminished oil production capabilities, according to Bloomberg....
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Brazil to join OPEC+ as Saudi-led bloc agrees to oil cuts

Al Monitor 30 Nov 2023
The OPEC+ oil cartel agreed on Thursday to cut oil production, following pressure from Saudi Arabia to keep prices up ... One point of disagreement was whether Angola and Nigeria should accept reduced output targets in light of their diminished oil production capabilities, according to Bloomberg....
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OPEC caps Nigeria’s oil output at 1.5mbd in new quota allocation

Business Day Online 30 Nov 2023
OPEC+ handed Nigeria a 2024 oil output target lower than Africa’s largest oil producer had hoped for while lowering Angola’s. read more OPEC caps Nigeria’s oil output at 1.5mbd in new quota allocation ... ....
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Crude oil price may hover at $80 per barrel till June 2024: S&P

Deccan Herald 30 Nov 2023
... underlined that global oil demand growth remained strong defying challenges from high interest rates, stubborn inflation, slow economic growth and geo-political tensions.</p>.<p>“This growth is driven by demand normalisation and China’s re-opening....
photo: Creative Commons / Norsk olje og gass
Oil production has been central to the Norwegian economy since the 1970s, with a dominating state ownership (Heidrun oil field).
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Oil steady; market eyes OPEC+ meet, weak demand indicators

Reuters 30 Nov 2023
crude oil and distillate fuel stocks last week, indicating weak demand ... African members of OPEC+ producer group Angola and Nigeria are aiming for higher oil output, officials had told Reuters ... MarketscategoryOPEC+ ministers meet to discuss additional oil output cuts ... MarketscategoryOPEC+ talks focusing on deeper oil cut, sources say....
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An unruly OPEC is causing problems for Russia and Saudi Arabia

Live Mint 30 Nov 2023
One oil minister, Diamantino Azevedo of Angola, planned to boycott the in-person meeting altogether. ....
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Oil prices rally on hopes of deeper production cut as traders monitor OPEC+ meeting

Market Watch 30 Nov 2023
Oil futures rose Thursday as investors awaited the outcome of an online meeting of OPEC+ members that news reports said may produce a round of deeper production cuts for early 2024.Price action ... The delay was attributed to objections by OPEC members Nigeria and Angola over proposed production targets....
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Brazil not expected to cap oil output as part of OPEC+, sources say

Reuters 30 Nov 2023
Brazil is the largest oil producer in South America, at 4.6 million barrels per day of oil and gas, of which 3.7 million bpd are crude ... BusinesscategoryOPEC+ tweaks Nigeria, Angola oil output levels for 20246.40 PM UTC � Updated ago....
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Zimbabwe orders lithium miners to submit refinery plans by March 2024

Reuters 30 Nov 2023
SummaryCompanies. Africa's top producer wants local battery-grade lithium plantsInfrastructure deficiencies undermine refinery ambitions ... Zimbabwe has also struggled for years to get PGM miners to refine the metals locally ... Our Standards ... Read Next. BusinesscategoryOPEC+ tweaks Nigeria, Angola oil output levels for 20246.40 PM UTC � Updated ago....
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Five things to know to start your Wednesday

Business Day Online 29 Nov 2023
Nigeria, Angola refuse OPEC’s proposal to reduce oil output Nigeria and Angola opposed OPEC’s suggested oil production cuts, leading to. read more Five things to know to start your Wednesday ... ....
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Nigeria, Angola Reject Oil Quota Cut as OPEC Stalemate Looms

This Day 29 Nov 2023
Nigeria and Angola, two major oil producers in Africa, are resisting a plan by the Organisation of Organisation of Petroleum Exporting Countries (OPEC) to compel both countries to reduce their crude oil production quota for next year, THISDAY learnt yesterday ... aging oil fields....
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Stocks Look Set for a Santa Rally. Why 2024 Could Be Less Cheerful.

Market Watch 27 Nov 2023
Oil prices are down from their peak, which should help reduce gasoline costs through the holidays ... Oil prices were falling early Monday as members of the Organization of the Petroleum Exporting Countries prepared to meet later this week ... Oil prices are down about 7% this year....

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