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Angola
Becoming Africa's Largest Oil Producer
02-18-2008
Angola may
overtake Nigeria as Africa’s largest oil producer, if it surpasses the 2 million
barrel per day mark in the second half of this year, according to the chairman
of KPMG Angola.
According to Paul de Sousa, the main reason for this change is that Nigeria has
lost around 25 percent of its production due to the Niger delta crisis, while
Angola's production has been increasing rapidly over the last five years.
Sousa, who is also a director of KPMG Africa, said during a speech in the KPMG
Gulf of Guinea Oil and Gas Conference, which was held recently in Abuja, said
that “based on the communications presented at the conference, the Niger Delta
crisis is having an enormous negative impact on Nigeria, in economic and
political terms.”
According to a statement cited by Angolan news agency Angop, both Angola and
Nigeria currently produce around the same amount of oil, estimated at 2 million
barrels per day.
Sousa also noted the role of the Angola LNG (Liquid Natural Gas) Project,
expected to cost US$4 billion, under construction in Soyo province.
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