BMI View: The Angolan hydrocarbons market has made several steps forward since the beginning of 2013. These include the start-up of production at BP’s PSVM field and a final investment decision on Chevron’s Mafumeira Sul project. The industry is nonetheless impaired by numerous delays and stringent aboveground instabilities. Attempts to cut gas flaring and the opening of the Angola LNG plant will boost the outlook for gas production and exports, although recurrent delays have pushed back the project’s starting date. OPEC quotas, the risk of further project delays and the Angolan political environment still imply a significant amount of uncertainty …
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