The minister of Mineral Resources and Oil, Diamantino Azevedo, on Monday in Porto Amboim, central Cuanza Sul Province, admitted that the decline in crude-oil production was caused by the substantial reduction in investments in this sector. The minister – who was speaking at the first Consultative Council of the Ministry -explained that to change the situation, there is a need for more research and studies, which call for considerable investments. He said the government has been taking measures to counteract the situation and in the past six months it has produced five legal tools which aim at boosting activities of prospecting and exploration, as well as simplifying administrative procedures to facilitate investments. “Until the end of the legislature, we have to make sure oil production does not go below 1.5 million barrels per day, since we have compromises with OPEC of (producing) 1.6 million per day”, […]