Luanda — Angola's crude oil exports reached 94.63 million barrels in the second quarter of this year, 2023, at average price of USD 76.19 / barrel, totalling about US$7.16 billion in revenues.

The figures, still provisional, point to an increase in exports in the order of 6.71% compared to the 1st quarter and a reduction of 9.47% compared to the same period of the previous year, 2022, according to the results on oil and gas exports presented on Tuesday by the Ministry of Mineral Resources, Oil and Gas (MIREMPT).

In the same sense, the gross value also rose 3.34% compared to the 1st quarter of this year, but had a sharp reduction of 39.41% compared to the same period last year, according to the document that was presented by the director of the Office of Study, Planning and Statistics of MIREMPT, Alexandre Garrette.

In the 2nd quarter of 2022, the value with exports stood at USD 11.82 billion resulting from the export of 103.89 million barrels at an average price of USD 113.92/barrel.

In the first quarter of this year, 2023, the values amount to USD 6.93 billion with the export of 88.14 million barrels at an average price of USD 81.17 per barrel.

China, main destination of country's exports

The main destinations of the quantities exported were China (64.25%), India (6.20%), Brazil (4.25%) and Spain (4.05%).

Of the volume of exports, 22.35% were from the National Agency of Petroleum, Gas and Biofuels (ANPG), the National Concessionaire, 16.35% from Sonangol, the national oil company.

As for the international companies, TotalEnergies (14.40%), BP (10.31%), SSI (8.09%), ENI (7.81%), ESSO (6.95%), Cabgoc and Equinor (5.99% and 5.10%), respectively, stand out.

The announcement of voluntary production cuts of 1.6 million barrels per day from May to the end of 2023 by the Organization of the Petroleum Producing Countries (OPEC), the prolongations of the cuts to 2024, the strengthening of economic activities in the United States of America (USA) influenced positively the increase in prices. NE/DOJ