(3 minutes read)
Angola aims to be an energy superpower by focussing not only on fossil fuels but also on renewables including solar, wind, and hydropower. Oil majors like TotalEnergies and ExxonMobil have been operating in the southern African country for a long time.
Angola aims to be an energy superpower by focussing not only on fossil fuels but also on renewables including solar, wind, and hydropower. Oil majors like TotalEnergies and ExxonMobil have been operating in the southern African country for a long time. Larger investments are coming to the country on account of Angola’s stable government with streamlined regulatory and tax policies. They work in tandem with the national producer Somoil in developing renewable energies and cutting the carbon footprint of their petroleum production.
Angola is set to become the largest crude oil producer in Southern Africa. TotalEnergies is the largest oil and gas producer in Angola. The oil major has been working in the country for nearly seven decades. ExxonMobil has been another major player in Angola, for more than a quarter of a century.
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There is clearly a shift to renewables focussing more on solar exposure. Angola has one of the best in Africa. The hydroelectric power potential is very high because of the presence of rivers across the country. Apart from the state-owned oil major Somoil, TotalEnergies is aiming at a range of renewable power sources in Angola.
