Of the Organisation of the Petroleum Exporting Countries’ 12 members, 11 are subject to its output ceiling, which was cut in December 2008 to help reverse a drop in oil prices as the world economy faltered. Only Iraq is exempted, to allow its war-ravaged industry to recover.
Oil Minister Jose Botelho de Vasconcelos, who has compared Angola’s history of conflict with that of Iraq, said that last year he had asked OPEC "two or three times" to be exempt from the cuts but the move has so far failed to gain approval from the group.
"It is possible that we do so again," he said, referring to Angola’s efforts to rebuild infrastructure destroyed by a 27-year civil war that ended in 2002.
"That is a reality that we are going to continue to express in order to continue mobilising other members."
Angola, which emerged from the war to rival Nigeria as Africa’s biggest oil producer, has pumped around 1,75 million barrels per day (bpd) in the first three months of the year, above its OPEC quota which it claims is 1,656 million bpd.
"In terms of production, we’re at around 1,75 million barrels per day. That is the level that we have maintained during these first three months but we will have to see what happens in the future," said Botelho de Vasconcelos.
"For us, it would be extremely important that during this year the group would allow some countries with a capacity to increase production to do so. But at this point we expect the decision taken in 2008 to remain unchanged." The 12-member group has left output targets unchanged since December when it agreed to cut 4,2 million barrels per day.
Angola joined OPEC in 2007 and was president of the group last year.
Just R20 for the first month. Support independent journalism by subscribing to our digital news package. 