By Eduard Gismatullin
April 18 (Bloomberg) -- BP Plc, Europe's second-largest oil company, said the company's plan to raise production in Angola won't be hindered by the quota OPEC set for sub-Saharan Africa's second-largest crude producer.
The Organization of Petroleum Exporting Countries in December for the first time gave Angola a quota of 1.9 million barrels a day, which has since been unchanged. The country's extraction rose 3.8 percent to 1.93 million barrels of oil a day in March from February, according to a Bloomberg News estimate.
``There's no impact on our production in Angola,'' Andy Inglis, BP's chief executive officer of Exploration & Production, said yesterday in an interview in London. BP plans to increase output in Angola to 200,000 barrels a day this year from 140,000 barrels a day last year, he said in February.
Chevron Corp., the second-largest U.S. oil company, is also sticking to its production in Angola, Ali Moshiri, Chevron's president for Latin America and Africa, said on April 8. ``At the moment we don't have any OPEC quota'' limitations on our production, he said in an interview earlier this month.
BP, Chevron, Exxon Mobil Corp., Total SA and other companies will cut Angola crude exports by 1.7 percent to an average of 1.92 million barrels a day in June from May, according to the nation's loading program.
Angola consumed about 60,000 barrels of oil a day last year, according to U.S. Energy Information Administration data.
Nigeria is sub-Saharan Africa's biggest crude producer.
To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net
Last Updated: April 18, 2008 05:48 EDT
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