Angolan oil exports down 2.9 percent in November

31 December 2013

Angolan oil exports fell by 2.9 percent in November, from 53.5 million to 51.9 million barrels, with a corresponding 7.5 percent drop in revenue, indicates information from the Angolan Finance Ministry.

Cited by the Bloomberg financial agency, the figures show that oil production declined in November to a daily average of 1.72 million barrels, down from 1.73 million barrels in October.

Revenues thus fell from 299 billion kwanzas to 273 billion kwanzas.

In October exports had risen 1.9 percent over the previous month, essentially due to BP, which nearly doubled production in bloc 31, the Finance Ministry figures show.

The numbers show that oil shipments reached 53.3 million barrels, with corresponding revenue of 299 billion kwanzas.

In September the oil companies operating in Angola had produced the equivalent of 52.5 million barrels, for revenues of 307 billion kwanzas.

Angola is Africa’s second-ranking oil producer after Nigeria and aims to reach 2 million barrels per day in 2015. (macauhub)