Ver Angola


OPEC predicts a 0.04 percent drop in oil production in Angola in 2025

The Organization of Petroleum Exporting Countries (OPEC) predicts that oil and gas production in Angola will fall by 0.04 percent in 2025, to less than 1.1 million barrels per day.


The estimate is below the limit that led to the country's exit from OPEC.

"In 2025, the production of liquids [oil and gas] in non-OPEC countries is expected to grow by 1.4 million barrels per day", reads OPEC's most recent monthly report, which adds that "the main drivers of growth will be the United States, Brazil, Canada, Russia, Kazakhstan and Norway, while production is expected to see a major decline in Mexico and Angola".

The March report comes three months after Angola left the organization, and makes few references to the country, the second largest oil producer in sub-Saharan Africa, but still presents a forecast of stagnation in production this year and next, maintaining the production estimate at 1.1 million barrels per day by the end of next year.

At the end of December, Angola announced its departure from OPEC from January this year, in order to increase production without being limited by the quotas that OPEC imposed, with which the Government did not agree and stated that they would limit the growth of oil production.

"We feel that at this moment Angola gains nothing by remaining in the organization and, in defense of its interests, it decided to leave", said the Minister of Mineral Resources, Oil and Gas, Diamantino Pedro Azevedo, speaking to journalists, at the Presidential Palace, in Luanda, at the end of December, in which he added: "This was not a decision taken lightly, we in the last six years have been very active in the organization, and so the time has come because our role in the organization was not relevant ".

Luanda, at the beginning of December, rejected the quota allocated by the cartel, which predicted a reduction, and will maintain the target of 1,180 thousand barrels per day for 2024, a difference of 70 thousand barrels per day compared to the maximum production quota of 1,110 thousand barrels per day that OPEC wanted to impose.

At the beginning of this year, the president of the National Oil, Gas and Biofuels Agency (ANPG), Paulino Jerónimo, said that the country is currently producing 1.1 million barrels daily, quantities that would reach 1.2 million barrels of oil per day, if it weren't for the daily losses of 90 thousand barrels of oil due to the age of wells in operation in Angola.

In the last five years, the country recorded unplanned production losses of around 170 million barrels of oil, due to the aging of most of the concessions, designed to operate between 15 and 20 years, some already over 60 years old.

At the end of January, the head of Deloitte for the Energy, Resources and Industry sector, Frederico Martins Correia, told Lusa that, without the limitations of OPEC, the country could increase its production to 1.2 million barrels per day.

"Because we were making 1.06 million barrels a day, OPEC's quota was 1.1 million barrels and if everything goes well we will be able to reach 1.2 million barrels and that was only possible outside OPEC", concluded Frederico Martins Correia.


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