Petroleum Africa
Find us on: 
Tuesday, April 7, 2015
The African Petroleum Producers Association (APPA) are calling for a cut in oil output globally. APPA members Algeria, Angola, Libya, and Nigeria are also OPEC members.
APPA is launching an initiative, led by Angola and Algeria, to seek collaboration between members of OPEC and other oil producers to reduce output and stabilize oil prices. According to the group they would like to “set up a platform of commitment at the international level from the producing countries,” said OusmaneDoukoure, director of exploration and production at Cote d’Ivoire’s oil ministry, reading a statement at the end of the APPA meeting on April 3.
Some APPA members like Equatorial Guinea have had to cut budgets due to oil prices. “We are very concerned by the drop of the price,” said Gabriel Lima Obiang, Equatorial Guinea’s oil minister, 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 stabilize the price in the future.”
This is not the first call to OPEC and other producers to cut production, however OPEC’s largest producer Saudi Arabia has been successful in rallying other members to its side to maintain current OPEC flows.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
