Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
A global deal to cut oil production and save the market from a coronavirus-induced breakdown proved elusive on Friday as a diplomatic initiative led by Saudi Arabia suffered repeated setbacks.
There has been a “dramatic” oil price slide, given "a lack of catalysts”, according to a leading analyst.
German Chancellor Angela Merkel, fresh from taking over the presidency of the Group of 20 nations, plans to use her leverage to challenge Donald Trump’s skepticism about the value of renewable energy by pointing out where it’s a viable business.
A campaign group has likened the G20’s actions to be being “drunk at a wedding”.
The United Nations last December set a deadline of Oct. 1 for countries to submit pledges on what they’re prepared to do to rein in fossil-fuel emissions as part of their contribution to a new deal to fight climate change.