Southern Africa: Angola Expects Over USD 70bln Investment in Oil Sector

Luanda — Angola expects more than 70 billion US dollar to be invested in its oil, gas, and energy infrastructure sectors over the next five years, Artur Custodio, executive director of the National Oil, Gas and Biofuels Agency (ANPG) said on Wednesday.

Speaking at the Angola Oil & Gas conference in Luanda, the ANPG director said fossil fuels remain critical to the southern African nation’s economy despite tightening global capital and increased competition among oil-producing jurisdictions.