The OPEC+ coalition is eyeing Namibia for potential membership, as the country gears up to become Africa’s fourth-largest oil producer by the next decade, according to industry reports.
TotalEnergies and Shell’s discoveries of around 2.6 billion barrels of oil have positioned Namibia for significant oil production by 2030.
NJ Ayuk, Executive Chairman of the African Energy Chamber, has facilitated discussions between OPEC and Namibia, aiming for Namibia’s full membership in the future.
While Namibia has expressed interest in joining OPEC, Minister Alweendo clarified that membership is not currently under consideration until oil production begins.
Angola’s recent exit from OPEC underscores the organization’s declining share in the global market. Namibia’s emergence presents an opportunity for OPEC to bolster its membership amid shifting dynamics in the oil industry.
