The Organization of the Petroleum Exporting Countries (OPEC) has accepted Equatorial Guinea as a new member of the Organization, Reuters reported.
Equatorial Guinea is considered to be Africa’s third-biggest oil producer and will be the sixth African oil producer to join the cartel.
The country announced earlier in 2017 that it was attempting to become OPEC’s 14th member, an addition that would help boost the continent’s influence and profile in the corridors of global oil production and pricing.
According to Offshore Energy Today, the membership was granted to Equatorial Guinea during the OPEC’s meeting in Vienna late May.
Equatorial Guinea’s Minister of Mines, Industry, and Energy, Gabriel Mbaga Obiang Lima, said, “Equatorial Guinea’s joining of OPEC is a triumph. This is a proud moment for us. There has never been a more important time to stand together and it is our honor to stand with OPEC as a positive force in global energy. We will use this platform to advance the interests of all African oil and gas explorers and producers and all OPEC members.”