The Organization of the Petroleum Exporting Countries (OPEC) is excited about a potential partnership with Namibia and ready to support the southern African country in its oil journey, OPEC Secretary General Haitham Al Ghais said on Wednesday.<\/p>\n
The OPEC+ oil producers’ group, having lost Angola and other players in recent years, is\u00a0looking at Namibia\u00a0for possible membership as it aims to start pumping oil by the next decade following a string of big discoveries.<\/p>\n
“We are excited about the potential of the Namibian OPEC partnership and stand ready to offer support at this crucial juncture,” Al Ghais said in a pre-recorded message at an international energy conference in Namibia.<\/p>\n
“We are enthused by the discoveries in Namibia. Namibian oil and energy will be essential to meeting future demand.”<\/p>\n
TotalEnergies and Shell\u00a0in recent years have made discoveries estimated at 2.6 billion barrels, setting the stage for the southern African country to plan production from about 2030.<\/p>\n
Sources told Reuters earlier this month the initial focus for OPEC+ – the wider grouping that includes Russia – would be to see Namibia join its Charter of Cooperation, a group that engages in longer-term dialogue about energy markets and does not decide on output policy. OPEC did not comment at the time.<\/p>\n
In addition to Total and Shell, firms including Chevron, Rhino Resources, Eco Atlantic Oil & Gas and Galp Energia are conducting exploration and appraisal activities.<\/p>\n
“We encourage potential investors to look at Namibia and the abundance of possibilities here,” OPEC’s Al Ghais said.<\/p>\n
Based on the existing discoveries, Namibia is looking at 700,000 barrels per day (bpd) of peak production capacity by the next decade, according to energy consultancy Rystad Energy.<\/p>\n
That is smaller than Angola’s output of about 1.1 million bpd, although Rystad noted Namibia’s number could rise with more successful exploration. Angola quit OPEC in December last year in a dispute over output quotas.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Organization of the Petroleum Exporting Countries (OPEC) is excited about a potential partnership with Namibia and ready to support the southern African country in its oil journey, OPEC Secretary General Haitham Al Ghais said on Wednesday. The OPEC+ oil producers’ group, having lost Angola and other players in recent years, is\u00a0looking at Namibia\u00a0for possible […]<\/p>\n","protected":false},"author":1,"featured_media":11454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":5,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"Reuters","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,30],"tags":[60,2396],"class_list":["post-11589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-southern-africa","tag-namibia","tag-organization-of-the-petroleum-exporting-countries-opec"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/11589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=11589"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/11589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/11454"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=11589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=11589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=11589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}