Angola and Algeria lead oil price strategy

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Angola and Nigeria, two biggest producers belonging to the African Petroleum Producers Association (APPA), which represents oil and gas producers from Algeria to South Africa, called for a cut in oil output globally.

This initiative was created to seek collaboration between members of OPEC and other oil producers, in order to to reduce output and stabilise oil prices. According to the released information, APPA wants “to set up a platform of commitment at the international level from the producing countries,” said Ousmane Doukoure, director of exploration and production at Ivory Coast’s oil ministry, as he read out a statement on Friday at the end of an APPA meeting in Abidjan, Ivory Coast’s commercial capital.

African countries from Angola to Nigeria to Equatorial Guinea have had to cut their budgets in recent months after the plunge in oil prices affected the amount of income they will get from their biggest exports. Countries, including the continent’s biggest economy Nigeria, have slashed growth forecasts.

“We are very concerned by the drop of the price,” said Gabriel Lima Obiang, oil minister for Equatorial Guinea, after the meeting. “We are revising already our budget because of the price and we have been welcoming an initiative by Angola and Algeria to study a way we can work together to stabilise the price in the future.”

Angola shows itself in Rome’s international airport

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Until April 12, a photo gallery will be open to the public in Rome’s Leonardo da Vinci International Airport, terminal 3, This photo gallery dubbed “The Republic of Angola on display” was inaugurated by the country’s general commissioner for Expo 2015, Albina Assis Africano.

Speaking on the occasion, Albina Assis declared that this exhibition depicts what Angola will take to one of the biggest universal shows, the Milan Expo, from May 1 to October 31. “Angola wants to seize this first show at the Leornardo da Vinci International Airport to anticipate an appealing exhibition, not only to the eyes of the world, but also to investors who will be acquainted and attracted by the investment and business potential the country can offer,” she said, quoted by the international press.

The official added that the country has embarked on enhancing initiatives to diversify its economy and reduce its dependence on oil and the extractive sector at large. According to Albina Assis, in an environment of peace and landmine free, Angola is in a position to rapidly recover its agricultural production records of the 60’s and 70’s as the world’s fourth coffee and eighth sisal producer. Boosted by the prevailing environment of peace, Angola will display enormous renewable resources in the sectors of agriculture, livestock, fisheries, energy and manufacturing industry.

 The gallery shows an asset of images that depicts the traditional culture, business opportunities and projects that reflect the will to attain high agricultural and livestock indicators enabling to improve the country’s food bank and nutrition of its more than 24 million inhabitants.

This anticipation of the Milan Expo serves for Angola to show its pavilion and thematic content at the event going this year with the theme “Feeding the Planet, Energy for Life”. The Angolan pavilion at Milan Expo covers an exhibition area of two thousand square metres comprising three levels.(Source: All Africa)