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Congo Republic Becomes OPEC Oil Cartel's Newest Member

Source: Reuters 6/22/2018, Location: Africa

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Congo Republic, one of Africa’s major oil producers, has joined the Organization of the Petroleum Exporting Countries (OPEC), OPEC said in a statement on Friday.

Congo’s membership was approved during a meeting in Vienna.

“The Conference considered Congo’s request to join the Organization and decided to approve its admission with immediate effect,” OPEC said in statement.

The government of Congo said in January that it wanted to join OPEC as it moves ahead with new projects that could help it become sub-Saharan Africa’s third-largest oil producer with a target of 350,000 barrels per day this year.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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