BP and Eni in Angola JV talks
The companies are considering combining their oil, gas and LNG assets in Angola into a new joint venture
The two firms have entered into a non-binding MOU to continue the talks. The companies say that a joint venture would create “significant synergies, create more efficient operations, and increase investment and growth in the [Angolan] basin”, while also showing their shared commitment to Angola’s “upstream potential”. The proposed JV would be backed by Eni and BP but also expected to be self-funded, with the goal of pursuing exploration and possible portfolio growth “both in Angola and regionally”. Research firm Welligence Energy Analytics estimates the JV’s combined portfolio at around 250,000bl/d, which would make them Angola’s second largest producer behind state-owned Sonangol. The com

Also in this section
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
5 February 2025
Growing appetite for LNG reinvigorates discussions between China and Myanmar, but civil war may prevent talk becoming action
5 February 2025
With new capacity, buyers must navigate sanctioned Russian crude, a return to traditional OPEC barrels and diversity of supply