OPEC Excited about Namibia Partnership, Offers Support

OPEC Excited about Namibia Partnership, Offers Support - Merchant Navy Info - News

Sources told Reuters earlier this month that the initial focus of OPEC+, the large group that includes Russia. Was to have Namibia join the group’s Charter of Cooperation. which holds long-term dialogue on energy markets rather than determining production policy. He said it would happen. OPEC did not comment at the time. In addition to Total and Shell, companies such as Chevron (CVX.N) open in a new tab, Rhino Resources, Eko Atlantic Oil & Gas and Galp Energia (GALP.LS) open in a new tab with exploration and evaluation activities. OPEC’s Al Ghaith said:

“We encourage potential investors to look at Namibia and the rich opportunities it offers.” Namibia is expected to reach peak production capacity of 700,000 barrels per day (bpd) by the next decade, based on existing discoveries, according to energy consultancy Rystad Energy. This is less than Angola’s production of around 1.1 million barrels per day, but Rystad noted that Namibia’s production could increase if exploration becomes more successful. Angola left OPEC in December last year over a dispute over production quotas.

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