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Tue, 22 Sep 2020 11:41 - Updated Tue, 22 Sep 2020 11:41

Minister defends country's stay in OPEC

Luanda - Angola?s minister of Mineral Resources, Petroleum Diamantino Azevedo defended Monday in Luanda the permanence of Angola in the Organisation of Petroleum Exporting Countries (OPEC).

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Minister of Mineral Resources, Petroleum Diamantino Azevedo

Photo: Pedro Parente

The minister was speaking at the meeting with journalists and opinion influencers for the exchange of views on OPEC, which marks its 60th anniversary on 14 September.

“As long as Angola's presence in OPEC does not harm our country's principles and interests, we do not see any need to leave the organisation.

It is a very important forum in terms of stabilising oil prices, in the search for fair prices for the producers and consumers”, said the government official.

In another aspect, the minister made a foray into the goals and objectives of the oil sectors and mineral resources.

In relation to these two subsectors, he highlighted the entire restructuring process that led to the approval of new governance models for the two sectors, which culminated in the creation of the National Oil and Gas Agency, National Mineral Resources Agency, Derivatives Regulatory Institute Petroleum, training of staff for the sector, as well as the extinction of Ferrangol.

Aspects such as the creation of the Diamond Cutting Hub in Saurimo, Lunda Sul, the construction projects for the refineries in Cabinda, Soyo, Lobito, fuel storage and the Local Content of the Petroleum Sector were also discussed.

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