Namibia may join OPEC+

The OPEC+ oil producers group is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade, Reuters reported citing sources.

TotalEnergies, opens new tab and Shell, opens new tab in recent years have made discoveries estimated at 2.6 billion barrels, setting the stage for the southern African country to plan production from about 2030.

The initial focus for OPEC+ would be to see Namibia join its Charter of Cooperation, the sources said. Talks between OPEC and the Namibian government will likely continue in late April.

About 2.6 billion barrels of oil have been discovered in Namibia this decade so far.Based on the existing discoveries, Namibia is looking at 700,000 barrels per day of peak production capacity by 2030.