opec newcomer faces investment challenge

摘要

Opec’s newest member, Congo (Brazzaville), is increasing crude production and counting on higher oil revenues for economic recovery, but its government has to tackle governance problems as it tries to attract new upstream investment. Congo’s Opec entry this month puts it alongside the growing ranks of African producers in the group, and marks a welcome piece of successful diplomacy for President Denis Sassou Nguesso. The debt-laden west African country has sufered a sharp economic crisis since the downturn in oil prices from 2014-16, but it joins Opec just as its own crude production rises to a record high.