Angola exports 1.687 million barrels of oil per day in January

23 March 2012

In January 2011 Angola exported an average of 1.687 million barrels of oil per day, a figure that exceeded the average daily amount in 2011, but which falls short of the 1.74 million average for 2010, according to the latest figures published in Luanda by the Finance Ministry.

In the first month of the year, the average price per barrel of exported oil was US$108.511, which is close to the average price seen in 2011 (US$108.8), also according to the figures from the Finance Ministry cited by the Angolan press.

Total revenues from crude oil exports totalled US$3.06 billion, and the revenues of state concession-holder Sonangol were in excess of US$1.838 billion, and the State netted over US$1.222 billion in taxes on the oil industry.

The level of Angolan oil production, according to the monthly report from the Organization of Petroleum Exporting Countries (OPEC), stood at 1.744 million barrels per day, rising, according to OPEC, to 1.82 million barrels in February, which was a rise of 76,500 barrels.

The OPEC report said that in January Angola was China’s second biggest oil supplier by exporting 660,000 barrels per day, of 12.7 percent of China’s total oil imports, and was only exceeded by Saudi Arabia, which provided 1.14 million barrels per day (22 percent of total Chinese oil imports). (macauhub)