Angola provided the market with 1.729 million barrels of oil per day in 2012, which represented a 1.93 percent share of world demand, said Angola’s Oil Minister at the Offshore Technology Conference, held in Houston, Texas, from 6 to 9 May.
Cited by daily newspaper Jornal de Angola, Botelho de Vasconcelos also said that world supply had totalled 90.5 million barrels per day, or 700,000 barrels more than demand, which stood at 89.8 million barrels per day.
In 2013 the Minister expects supply to outstrip demand once again and Angolan oil production to total 1.751 million barrels per day.
Speaking about Angola in particular, Botelho de Vasconcelos said that the country’s energy policy was still based on conventional sources of energy such as fossil fuels and hydroelectricity although it did not exclude other sources such as biofuels, which is made from sugar cane and oil-rich plants.
“The Angolan government has developed a strategy that establishes that biofuel production should not compete with food production and the energy autonomy of communities,” noted Botelho de Vasconcelos. (macauhub)