1 December 2013

Angola: Oil Minister At Opec Ordinary Meeting

The Angolan Oil Minister Botelho de Vasconcelos will be attending the 164th Ordinary Conference of the Organisation of the Petroleum Exporting Countries Ministers (OPEC) on December 4 in Vienna, Austria, Angop learned from an official source.

The Minister will lead a delegation including the Angolan Ambassador to Austria, Maria de Jesus dos Reis Ferreira, and high ranking officials of the Oil Ministry and the Angolan Oil company (Sonangol).

During Wednesday's session, the ministers responsible for oil from the 12 OPEC member countries will review the situation of the international oil market, in the light of the current crude prices that have been ranging from Usd 105 to 110.

In view of the current prices, the meeting is expected to go smoothly, with no relevant changes to the organisation's daily production of 30 million barrels.

Another matter that might take the attention of the ministers is the election of the new OPEC Secretary General, in replacement of current El Badrid of Libya.

With a daily production of 1.7 barrels, Angola is currently Africa's main oil producing country, only second to Nigeria.

OPEC founded in 1961 in Bagdad (Iraq) responds for a significant portion of the oil used around the world.

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