Angola produces 590 million barrels of oil from January to November, 2010

19 January 2011

Luanda, Angola, 19 Jan – Angola produced 590 million barrels of oil between January and November, 2010, the country’s oil minister, José Maria Botelho de Vasconcelos said Tuesday in Luanda.

The minister also said that in the same period Angola produced 6.26 million barrels of liquid natural gas (LNG).

Cited by Angolan news agency Angop, Botelho de Vasconcelos said that oil production continued to be strategic for the Angolan economy as it was the country’s main source of revenues.

The minister, who did not reveal revenues for the period, said he was convinced that in 2011 the sector would generate the financial resources required for the country’s reconstruction.

In relation to biofuels, Botelho de Vasconcelos said that the technical group for execution of the national strategy and the respective law was already working on the reference terms for the National biofuel Production Programme.

In the area of investments the minister noted the Food and Fuel project being carried out by state group Sonangol and ENI Angola, of Italian group ENI, which aims to recover palm groves in order to meet demand for palm oil and for biodiesel production. (macauhub)