Angola cashed in 27 billion dollars with oil exports in 2021

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According to the Secretary of State for Oil and Gas, José Barroso, the gross revenue collected in 2021 represented an increase of 51.4 percent compared to 2020, despite the total volume exported in 2021 having been lower by 11.69 percent. .

The official, who was speaking this Thursday, in Luanda, during the presentation of the summary of the balance of exports of oil and natural gas for the fourth quarter of 2021, said that the covid-19 and the decisions of OPEC+ (Organization of Producing Countries of Oil) influenced the price of Brent in this period.

Brent, the benchmark for Angolan exports, registered an average price of 79.76 dollars per barrel in the last three months of 2021.

A total of 98.9 million barrels of crude oil were exported by Angola in the fourth quarter of 2021, corresponding to 1.7 million barrels per day, which resulted in gross revenue of approximately US$7.83 billion.

The results of the achievements of state-owned Sonangol and the concessionaire Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) were presented by the chairman of the executive committee of Sonangol Comercialização Internacional, Luís Manuel.

Sonangol and ANPG both sold, in that period, around 40 million barrels, “representing a decrease of around 3.8 million barrels” when compared to the volumes exported in the third quarter of 2021.

Both organizations achieved gross revenue of around 3 billion dollars, a decrease of 45 million dollars when compared to the revenue achieved in the previous quarter.

Of the total volume exported in the fourth quarter of 2021, 24.59 percent belongs to ANPG, 15.79 percent belongs to Sonangol and the remainder belongs to foreign companies.

China was the main destination for Angolan crude in October, November and December 2021 with 61.57 percent, followed by India (11.87 percent), Thailand (4.9 percent), Gibraltar (2.52 percent). percent) and Italy, Spain, Canada and South Africa with 2.4 percent each.

The Asian giant was also the main destination for national oil in 2021 with 71.51 percent of total exports, followed by India with 7.02 percent.

Regarding natural gas, in 2021 Angolan exports totaled around 4.48 million metric tons, valued at approximately US$3.1 billion.

José Barroso pointed out that the gross revenue collected from gas exports in 2021 “is almost three times higher than that obtained in 2020, as a result of the increase in prices in the international market”.

LNG, butane and propane gas were mostly exported in 2021 to Asia, while condensate was mainly exported to the United States of America.