Congo Brazzaville to Join OPEC to Improve its Oil Production

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Enterprise Television-  Congo Brazzaville to Join OPEC to Improve its Oil Production

Congo, the fourth largest producer of oil in sub-Saharan Africa, wants to join OPEC in a bid to establish itself in the definition of policies and decision-making within the sector.

Resources from the country’s oil account for about two-thirds of GDP – that is 75 percent of government revenue and 90 percent of export earnings.

With the launch of the new Moho Nord oil field, Congo might be able to achieve its forecasts for an annual production of 117 million barrels.

Sudanese government and institutions have started building their economic relations with counterparts in US after the world leader eased sanctions on it.

Financial experts said that there had been significant improvements within the period of one hundred days after the economic embargo was lifted witnessed notable developments and movements between Khartoum and Washington including resuming banking transactions.