Angola: Oil production in Angola biggest in Africa in May

19 June 2008

Vienna, Austria, 19 June – Angolan oil production remained at the highest level in Africa in May for the second consecutive month, exceeding that of Nigeria, according to the Monthly Oil Market Report for June 2008 published by the Organization of Petroleum Exporting Countries (OPEC).

In May, Angola produced 1.902 million barrels of oil, once again exceeding Nigeria, which produced 1.889 million barrels per day.

In April, Angola produced 1.882 million barrels of oil and NIgeria produced 1.824 million barrels per day.

Angolan production rose 18 percent last year, to a daily average of 1.61 million barrels, according to figures from the International Energy Agency (IEA).

Since the beginning of the year Angola has had a production quota of 1.9 million barrels per day imposed on it by OPEC, the cartel it joined in 2007.

Angola is currently the source of 5 percent of US oil imports (496,000 barrels per day) and in the first quarter of the year it was the main supplier of oil to China, exceeding Saudi Arabia, thanks to a 55 percent rise in its exports to the Asian nation. (macauhub)