Angola

Shell PLC (NYSE:SHEL) reportedly plans to invest around $1 billion in new oil blocks in Angola. The chairman of the oil regulator stated that the move reflects the southern African nation’s aim to boost production that has declined over the years, as per Bloomberg. • SHEL is trading at...

After a hurricane-related postponement, President Joe Biden will visit Angola in December, marking his first and last trip to the African continent in the final week of his tenure. Angola, a country with a complex history tied to the United States and its Cold War adversaries, is now at the...

Oil prices fell by more than 1% on Thursday after Angola said it was to exit the Organization of the Petroleum Exporting Countries (OPEC), raising concerns the African nation will not stick to quotas set by the cartel. Brent crude, the European benchmark oil futures contract, fell 1.1%, to $78.80 a...

Angola is a mineral-rich African nation, with extensive natural resources including crude oil and diamonds. In fact, Angolan economic activity far outstrips that of any other sub-Saharan African nation by a long margin. The economic growth rate has exploded thanks to vast crude oil reserves which...

U.S. stocks declined as investors demonstrated concerns over recent escalations of violence in Iraq. Crude oil rose as a wave of violence has seen Mosul and Tikrit (two cities key to Iraq's oil industry) fall to insurgent forces. The Senate confirmed former Bank of Israel government...