Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Angola to raise oil output by 100,000 bpd this year
+ -
08:46, July 03, 2008

 Related News
 Oil prices top $144 on supply concerns
 Indonesia calls for discussion to reduce oil prices
 Refiners continue to struggle
 IEA says oil market to remain tight in medium term
 Oil prices rise on supply worries
 Related Channel News
· Surge in Oil Prices
 Comment  Tell A Friend
 Print Format  Save Article
Angolan Oil Minister Desiderio Costa said Wednesday that the major oil producer in Africa will raise its output by 100,000 barrels per day before the end of this year.

"Production is actually 1.9 million barrels per day and it will reach 2.0 million barrels by the end of the year," Costa told delegates at the World Petroleum Congress in Madrid.

But Costa said he agreed with his colleagues in the Organization of Petroleum Exporting Countries (OPEC) that the market is full of oil supply despite price hike.

"Angola is an OPEC member, and we believe in OPEC's position that there is enough supply in the market," he said.

In line with the position of other OPEC members, Costa blamed financial market speculation and the devaluation of the U.S. dollar for the record high oil prices.

"We cannot do anything about speculation and the dollar situation," he said.

Present at the same congress, Syanga Abilio, vice president for exploration and production at Sonangol, Angola's state-owned oil company, said the southeast African country planned to invest about 100 billion U.S. dollar over the next five years in the oil industry.

Angola is vying for the largest oil producer in Africa with Nigeria.

Source:Xinhua



  Your Message:   Most Commented:
Obama Phenomenon in U.S.
"Nonviolence" in the mouth of "Dalai Lama"
Dalai clique is chief criminal of violent crimes
Central authorities to meet Dalai's representatives in early July
Diplomat: Tibet issue not about human rights

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90865/6441085.pdf