Capacity up, supply down in Angola
Angola says it has already begun to reduce supply but how and where is unclear
Angola committed to lopping 80,000 barrels a day off its output of 1.75m b/d and already seems to have made the cut. State oil company Sonangol said in early January it had removed 78,000 b/d of supply-although it's not yet clear where or how. The supermajors are well represented in Angola and, of course, were not signatories to any supply deal (though they'd all like a higher oil price). BP produces about 310,000 b/d in Angola; Total just under 290,000 b/d; and Eni about 135,000 b/d. And Angola has had a pretty successful downturn, at least in supply terms. Eni brought output of its West Hub deep-water project to 100,000 b/d, when production started from the Mpungi field in early 2016. The
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
