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Angola: Q1 2021 crude exports of 97.8M barrels worth US$6.03B

Angola exported 97.8 million barrels of crude oil, in the first quarter of 2021, and collected US$6.03 billion (5 billion euros), which represents a 5.96 percent drop in exports compared to the previous quarter.

According to the results of Angola’s crude oil and gas exports, for the first three months of 2021, published on Thursday in Luanda, the country also posted a drop in exported volumes of 17.42 percent against the same period of 2020.

The price of Angolan crude oil reached a minimum of US$52.58 per barrel and a maximum of US$69.09 per barrel during this period, reaching a quarterly average of US$61.68 per barrel.

The director of the Office for Studies, Planning and Statistics of the Ministry of Mining, Oil and Gas, Alexandre Garreto, who presented the results, noted that exports in this period corresponded to about 1.87 million barrels per day.

“In the period under review the prices were influenced by the emergence of the new variants of Covid-19, the concerns around the demand for oil and crude and the spread of the pandemic in Europe and Asia,” he justified.

Of the total volume exported, 25.89 percent belonged to the National Oil, Gas and Biofuels Agency, the Angolan concessionary, and 18.20 percent belonged to Angolan state oil company Sonangol.

Regarding the international companies that operate in Angola, Total (11.81%), ESSO (9.71%), BP (8.66%), SSI (7.65%) and Chevron (6.74%) stand out.

China was the main destination of Angolan oil in this period, absorbing 70.14 percent of total exports, followed by India with 8.61 percent and Singapore with 4.85 percent.

In Europe, France, with 1.01%, and Italy, with 0.97%, were the main destinations of Angola’s oil in the quarter.
Source: Macau News Agency

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