Angola wants to increase oil production in 2015

28 July 2014

Angola plans to produce 1.630 million barrels of oil per day by the end of the year the country’s oil minister, Botelho de Vasconcelos said in Luanda cited by Angolan news agency Angop.

The minister said that as new oil fields started operating production would reach 2 million barrels of oil per day in 2015.

Angola’s oil exports fell by 9.6 percent between January and May of this year to 237.4 million barrels, the greatest drop since 2011. Average production in the first five months of 2014 stood at just less than 1.6 million barrels per day.

Tax revenues from Angolan oil exports fell to US$12.6 billion in the first five months of the year, according to figures from Angola’s Finance Ministry. (macauhub/AO)

MACAUHUB FRENCH