Angola, Africa's third-largest oil producer, says it aims to maintain crude production above 1 million barrels per day to offset declines at mature fields. President João Lourenço told parliament in Luanda oil and gas remain the backbone of the economy and public finances, echoing Oil Minister Diamantino Azevedo’s earlier statement that new investment and discoveries underpin a plan to keep output at or above 1 mln bpd at least through 2027.

2026-10-15

Angola, Africa's third-largest oil producer, says it aims to maintain crude production above 1 million barrels per day to offset declines at mature fields. President João Lourenço told parliament in Luanda oil and gas remain the backbone of the economy and public finances, echoing Oil Minister Diamantino Azevedo’s earlier statement that new investment and discoveries underpin a plan to keep output at or above 1 mln bpd at least through 2027.