Ver Angola

Energy

Oil sales generated more than 31 billion dollars in 2019

In 2019, Angola exported around 479 million barrels of oil, at an average price of US $ 65.2 per barrel, totaling revenues of 31.2 billion dollars.

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The assessment was made, in Luanda, by Gaspar Sermão, from the National Directorate for Markets and Promotion of Commercialization of the Angolan Ministry of Mineral Resources and Petroleum (MIREMPET).

The main destinations for national crude oil exports were China (72 percent), Spain (6 percent) and India (5 percent).

In the last quarter, the state-owned oil company, Sonangol, and the international companies that produce Angolan crude oil exported about 117.2 million barrels that allowed a financial inflow of 7.7 billion dollars. Compared to the third quarter, there was a decrease in the exported quantities of about 158.2 thousand barrels and compared to the period, a decrease of 12.4 million barrels.

Throughout the year, Sonangol traded more than 172 million barrels, which generated about 11.3 billion dollars.

Speaking about the performance of the state oil company in the fourth quarter, the chairman of Sonangol's executive committee, Luís Manuel, pointed out that the “price had a volatile behavior” having risen ten dollars in the period under review.

One of the factors that most influenced the price variation was the “optimism” that emerged in the fourth quarter regarding the United States/China trade agreement.