Ver Angola

Energy

Oil exports fell 7.2 percent in 2020 to $ 18.3 billion

Angola's oil and gas exports fell 7.26 percent last year, to $ 18.2 billion, resulting from sales of 446 million barrels of oil and gas equivalent.

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"During the year 2020, a total of 446,394,014 barrels were exported, valued at a weighted average price of $ 40.9 per barrel, which resulted in gross revenues in the order of $ 18,296 million", about 15.3 billion euros, can be read in the presentation on Crude Oil and Gas Exports for the Year 2020, released by the Ministry of Mineral Resources, Oil and Gas.

"In relation to the previous year, there was a decrease of 7.26 percent in Crude Oil exports", added in the presentation made in Luanda, which implies an average daily volume of exports of 1.22 million barrels.

The document, which analyzes Angola's oil and gas production and exports last year, without making predictions for this and the coming years, points out that "the main destinations were China, with 71.07 percent, the India, with 5.87 percent, and Thailand, with 4.34 percent ".

Portugal enters the list of the biggest export destinations for Angolan oil in 2020, buying 1.28 percent of oil exports and 1.04 percent of gas sales.

"The only African country that imported crude oil from Angola was South Africa, with an import volume corresponding to 1.06 percent of the total", it is also pointed out in the presentation.

"In 2020, the international oil market was fundamentally influenced by the measures imposed by the spread of the SARS-CoV-2 virus, the causative agent of covid-19, which strongly affected the world economy and weakened the global demand for oil," concluded the ministry.