The Organization of the Petroleum Exporting Countries, OPEC, is looking to add Namibia to its ranks as the Southern African country gears up to begin oil production by 2030. Namibia recently discovered a significant volume of oil within its shores, which will make it the fourth largest oil-exporting company within the next ten years. OPEC’s efforts to woo Namibia is necessitated by the recent exits of Angola and other key participants in the oil-exporting industry. With Brazil joining the organization in January, the addition of Namibia will further swell its ranks and improve the organization’s influence in the energy market.
SOURCE: NAIRA METRICS
