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Nigeria, Congo reaffirm pledge to OPEC after Angola exit
Congo says it remains committed to OPEC's ''strategic policy'' and will continue working together with other member countries.
Nigeria, Congo reaffirm pledge to OPEC after Angola exit
Congo says the exit of neighbouring Angola from OPEC will not affect its membership. Photo: AFP / AFP
December 23, 2023

Congo has reaffirmed its commitment to the Organization of Petroleum Exporting Countries (OPEC), days after neighbour Angola decided to leave the organisation.

"The Republic of Congo reaffirms its steadfast commitment to the strategic policy defined by the Secretary-General of OPEC and OPEC+," Congo's hydrocarbons minister Bruno Jean-Richard Itoua said in a LinkedIn post on Saturday.

"Congo is committed to continuing close and constructive collaboration with all member countries."

Nigeria's dedication

The development comes after Nigeria also reaffirmed its commitment to OPEC with minister of state for petroleum Heineken Lokpobiri saying that his country's position remained unwavering.

"Our collaboration within the organisation remains pivotal in fostering stability and sustainability in the oil market," Lokpobiri said in a statement on Friday.

"We are resolute in our dedication to OPEC's objectives while actively engaging with the organisation to address concerns that resonate not only within our nation's borders but across the entire continent."

Angola's interests

Congo, which became a full member of OPEC in 2018, has been set a target of 277,000 barrels per day (bpd) for 2024 by the oil producer group, Reuters news agency reports.

Nigeria, which is Africa's biggest oil producer, and Angola were among several countries given lower output targets for 2024 after years of failing to meet previous ones.

Angola's Oil Minister Diamantino Azevedo said on Thursday that OPEC no longer served the country's interests.

It joins other mid-sized producers Ecuador and Qatar that have left the organization in the last decade.

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SOURCE:TRT Afrika and agencies
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