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OPEC chief visits Angolan state oil firm



AFP
LUANDA
Petroleumworld.com 08 29 07

OPEC Secretary General Abdullah el-Badri wrapped up a meeting to the oil cartel's newest member Angola on Tuesday by holding talks with bosses at state-run oil firm Sonangol, official media said.

Although there were no details about the outcome, the talks were expected to focus on the the production level that OPEC, which regulates oil supply from its members to control prices, will fix for Angola.

No quota has been announced since the country became the 12th member of OPEC in January after being admitted at an extraordinary meeting of OPEC members in the Nigerian capital Abuja in December.

The state-run Angop news agency said that Badri also held talks on the final day of a visit which began on Saturday with officials from Sonangol's sister infrastructure company Sonils.

During his visit, the Libyan has met with a series of senior government officials including veteran President Jose Eduardo dos Santos on Monday.

Angola was ravaged by a 27-year war which finally ended in 2002. The country is currently sub-Sahara Africa's second-largest oil producer after Nigeria.

Currently producing 1.4 million barrels per day, Angola plans to increase its production levels to two million barrels per day by the end of this year.

OPEC members have about 75 percent of the world's proven oil reserves.

OPEC's other members are Algeria, Saudi Arabia, the United Arab Emirates, Iraq, Iran, Libya, Indonesia, Nigeria, Venezuela, Kuwait and Qatar.

AFP 28 1702 GMT 08 07

Copyright© 2007 AFP. All rights reserved.

 

 

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