U.S. to invest $2 billion in Angola’s oil industry

The announcement was made Monday by US Secretary of State Mike Pompeo – who was visiting Angola with a view to strengthening cooperation between the two countries – at a meeting organised by the US-Angola Chamber of Commerce (USACC). The relevant departments of the two governments are therefore expected to meet more frequently in the coming months to implement this initiative. This news is a boon for Angola, which is facing weak production, prices and investment in the sector, which has severely affected government revenues in recent months.