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The OPEC+ oil producers coalition, having seen departures like Angola in recent times, is considering Namibia for potential membership.
This move comes as Namibia gears up to potentially become Africa’s fourth-largest oil producer by the next decade, according to an African industry official.
In recent years, TotalEnergies and Shell have found around 2.6 billion barrels of oil, getting Namibia ready to start producing by 2030, Reuters reported.
In the long run, OPEC, along with Russia and other members of OPEC+, aims to have Namibia as a full member, NJ Ayuk, executive chairman of the African Energy Chamber stated, adding that his organisation has been helping facilitate discussions between the two parties.
In February, OPEC Secretary-General Haitham Al Ghais mentioned that OPEC was in discussions with several countries about joining the charter, although he didn’t specify which ones.
OPEC in a tweet at the time said Al Ghais met Namibian Minister of Mines and Energy Tom Alweendo at a conference in Nigeria where the prospect of OPEC and Namibia working together “under the umbrella of the charter of cooperation” was raised.
Last year, Namibian Petroleum Commissioner Maggy Shino expressed interest in joining the OPEC “family,” as reported by S&P Commodity Insights.
However, in March, Minister Alweendo said OPEC membership was not currently under consideration.
“We haven’t been approached by anyone to join OPEC. OPEC members are petroleum exporting countries and we are not there yet,” he said.
“That is a consideration only after we have started to produce.”
Discussions between OPEC and Namibia are expected to resume in late this month. — Business Insider Africa.
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