Ver Angola


Angola raised 11.8 billion dollars in the second quarter of this year with oil exports

Angola raised 11.8 billion dollars in the second quarter of this year, with the export of 103.6 million barrels of crude oil, 75.5 percent more than in the same period in 2021, according to official data.


The data are contained in the Balance of Exports of Crude Oil and Natural Gas for the second quarter of 2022 presented this Tuesday by the Ministry of Mineral Resources, Oil and Gas.

In the period in question, the average price of a barrel of oil was 113.91 and exported 1,139 million barrels per day, with the main destinations for crude oil exported being China, with 54.9 percent, India, with 7, 34 percent, the Netherlands with 6.42 percent and Italy with 6.34 percent.

Gross revenue collected represented an increase of 116.6 percent compared to the first quarter of 2022 and 75.5 percent compared to the same period of 2021.

Of the total volume exported, 26.18 percent belongs to the National Oil and Gas Agency and 14.53 percent to Sonangol, while TotalEnergies was responsible for exporting 14.15 percent, ESSO (9.81 percent) , BP (9.17 percent), Eni (6.32 percent), SSI (6.31 percent), Cabgoc and Equinor, with 6.30 percent and 5.60 percent, respectively.

The price of crude oil was positively influenced in the international market by the sanctions imposed on Russia by the West, which resulted in the drop in its oil and gas production, the maintenance of the gradual increase in the supply of crude oil by OPEC+, the agreement by the Union European Union to cut imports of Russian oil and refined products by up to 90 percent and drop production from Libya and Ecuador, as well as easing restrictions on the covid-19 pandemic by China.


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