OPEC's Newest Member May Boost Output as Much as 65% This Year
- Congo expects production to start at Moho North, Banga Kayo
- Country produced 291,000 barrels per day of oil last year
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The Republic of Congo expects to raise oil production by as much 65 percent this year as two new projects come on stream, Hydrocarbons Minister Jean-Marc Thystere-Tchicaya said.
Congo joined OPEC last week and plans to open up its oil industry, which the government says is dominated by Total SA and Eni SpA, to new investors. Sub-Saharan Africa’s third-biggest oil producer pumped 291,000 barrels per day last year, according to the BP Statistical Review of World Energy.