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Country Analysis Brief: Angola

February 27, 2014 Comments off

Country Analysis Brief: Angola
Source: Energy Information Administration

The first commercial oil discovery in Angola was made in 1955 in the onshore Kwanza (Cuanza) basin. Since that discovery, Angola’s oil industry has grown substantially, despite a civil war that occurred from 1975 to 2002. Currently, oil production comes almost entirely from offshore fields off the coast of Cabinda and deepwater fields in the Lower Congo basin. There is small-scale production from onshore fields, but onshore exploration and production have been limited in the past due to conflict.

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New From the GAO

February 7, 2013 Comments off

New GAO Reports
Source: Government Accountability Office

Cuba Democracy Assistance
USAID’s Program Is Improved, but State Could Better Monitor Its Implementing Partners
GAO-13-285, Jan 25, 2013

Space
Launch Services New Entrant Certification Guide
GAO-13-317R, Feb 7, 2013

Sex Offender Registration and Notification Act
Jurisdictions Face Challenges to Implementing the Act, and Stakeholders Report Positive and Negative Effects
GAO-13-211, Feb 7, 2013

Sex Offender Registration and Notification Act
Survey of States and Territories on Implementation of the Act (GAO-13-234SP, February 2013), an E-supplement to GAO-13-211
GAO-13-234SP, Feb 7, 2013

Sub-Saharan Africa
Case Studies of U.S and Chinese Economic Engagement in Angola, Ghana, and Kenya; a Supplement to GAO-13-199
GAO-13-280SP, Feb 7, 2013

Sub-Saharan Africa
Trends in U.S. and Chinese Economic Engagement
GAO-13-199, Feb 7, 2013

External Sustainability of Oil-Producing Sub-Saharan African Countries

August 28, 2011 Comments off

External Sustainability of Oil-Producing Sub-Saharan African Countries
Source: International Monetary Fund

In the extensive empirical work carried out across the IMF on oil-producing sub-Saharan African (SSA) countries, the notion of “sustainability” is often directed toward fiscal policies, and, in particular, views on the “optimal” non-oil primary fiscal deficit. The bulk of this work does not, however, address external sustainability, which is a concern especially for those SSA oil producers operating under a fixed exchange rate regime. A couple of recent papers have extended the existing methodologies to assess external sustainability for some oil-producing countries but they do not focus on those in sub-Saharan Africa. In this paper, we bolster this empirical work by providing a range of estimates for the long-run external current external account balance for each of the SSA oil-producing countries, based on three widely used methodologies in the IMF. Our research strategy is to apply these models to the eight countries in the subregion – Angola, Cameroon, Chad, Côte d’Ivoire, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo – using similar simplifying assumptions so that we are using the same lens to view how they do and do not differ.

+ Full Paper (PDF)

Country Analysis Brief: Angola

August 28, 2011 Comments off

Country Analysis Brief: Angola
Source: Energy Information Administration

Over the past decade, Angola has become one of the largest crude oil producing countries in Africa, and even briefly became the largest in 2009, surpassing Nigeria as the latter suffered from attacks on oil infrastructure in the Niger Delta. The oil sector plays an important role in the Angolan economy, accounting for over 95 percent of export revenues and over 75 percent of government revenues according to theInternational Monetary Fund

Angola is a member of the Organization of Petroleum Exporting Countries (OPEC) and as such, faces crude oil production limitations set by the organization. Angola’s target crude oil production is currently between 1.52 and 1.66 million barrels per day (bbl/d). Despite these limitations, Angola is expected to increase oil production and capacity in the short-term as new offshore projects come online and foreign investment continues to flow into the sector. 

Natural gas production in Angola is tied directly to oil production and is often vented or flared, with limited volumes consumed domestically. Developments are underway to capture and market this natural gas for domestic electricity generation and to export most of it in the form of liquefied natural gas (LNG) by 2012. 

Map of Angola
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