Even as OPEC-member Angola continues to comply to bloc-wide crude production cuts, its progress on its first offshore oil project remains unhindered, according to a new report by Reuters. Total, the French company heading the 230,000-barrel per day Kaombo project, said the first vessel that will pump and store oil in the African nation’s waters is on its way from Singapore right now. The $16 billion project is slated to cause a 14 percent jump in oil production compared to the 2017 national average, which stood at 1.632 million barrels per day. The floating production, storage and offloading (FPSO) unit will be able to pump 115,000 bpd, exactly half of the project’s final expected output. Another duplicate vessel is still docked in Singapore. The Organization of Petroleum Exporting Countries (OPEC) agreed to cut output by 1.2 million barrels per day back in November 2016. The bloc’s members and a […]