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Nov 3, 2025 4:00 PM

Shell Plans $1 Billion Angola Oil Investment During Offshore Exploration Push: Report

Shell PLC (NYSE:SHEL) reportedly plans to invest around $1 billion in new oil blocks in Angola.

The chairman of the oil regulator stated that the move reflects the southern African nation’s aim to boost production that has declined over the years, as per Bloomberg.

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Details

As per the report, Shell and Angola's National Agency for Oil, Gas and Biofuels penned an exclusive exploration rights deal.

The deal encompasses offshore Blocks 19, 34 and ...