Shell Returns as Angola Opens Bidding to Halt Oil Output Drop

Shell Plc’s return to Angola after a 20-year hiatus highlights a shift in sentiment toward the nation’s oil sector, as reforms aimed at attracting global capital start to show results.

Shell, alongside Chevron Corp. and Sonangol EP, signed deals with the National Agency of Petroleum, Gas and Biofuels for Block 33 in the Congo Basin, ANPG board member Alcides Andrade told reporters on the sidelines of an oil conference in in Luanda, the capital.