Angola: Foreign Oil Drillers Sour on Regulation-Happy Angola, Total Says

Sep 5, 2015 | Candido Mendes, Bloomberg
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Angola risks losing investment from foreign oil companies as costly government regulations and low world prices make the country, vying to be Africa’s largest producer, less attractive to operate in, an industry executive said. A series of measures introduced by Angola’s government in recent years has pushed production costs up as much as $500 million annually, said Jean-Michel Lavergne, general manager for Total E&P Angola, the country’s biggest driller.