Ver Angola


Oil exports generated almost seven billion dollars in the first quarter

Angola exported 87.92 million barrels of oil for a total of 6.92 billion dollars in the first quarter of 2023, which represents a decrease of 30 percent compared to the same period last year.


The balance of exports of crude oil and natural gas was presented this Monday in Luanda by the Secretary of State for Oil and Gas, José Alexandre Barroso, pointing out the evolution of the price of Brent in the first three months of this year.

Dated Brent (the price of crude oil to be delivered in the short term on the international market) recorded an average price of 81.17 dollars per barrel, with exports of 87.92 million barrels of crude oil valued at 6.92 billion dollars. dollars, which were mainly destined for China (more than 50 percent).

In the first quarter of 2022, according to data from the Ministry of Mineral Resources, Oil and Gas consulted by Lusa, Angola exported 98.38 million barrels at an average price of 103.83 dollars, raising 10.14 billion dollars.

The slowdown in the global economy and expectations of an increase in interest rates by central banks and a relative decrease in demand for fuel were some of the factors that influenced the price of dated Brent, according to the Secretary of State.

On the other hand, the recovery of the Chinese economy and the reduction of production in Russia and the interruption of production in Iraq favorably influenced the recovery of prices in this period.

As for gas, exports reached 1.11 million metric tons worth 948 million dollars.

"It should be noted that gas exports carried out in the quarter under review represented an increase of 3.61 percent when compared to the previous quarter, although the value resulting from the sale of these volumes was 36.58 percent lower compared to the first quarter , as a result of lower gas prices in the international market", highlighted José Alexandre Barroso.


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