Angolan oil production falls by 88,300 barrels per day in June

13 July 2018

Angola’s oil output in June fell by 88,300 barrels per day (bpd) according to secondary sources and by 38,000 according to direct communication, leading Nigeria to consolidate its position as Africa’s leading oil producer, according to a report from the Organization of Petroleum Exporting Countries (OPEC).

The OPEC Monthly Oil Report for June issued this month said that production in Angola, according to secondary sources, stood at 1.431 million bpd compared to 1.519 million bpd in May and 1.448 million bpd to 1.486 million bpd in May, according to direct communication.

Nigeria’s production rose by 27,800 bpd in June to 1.660 million bpd according to secondary sources and 11,600 bpd to 1.511 million bpd, according to direct communication.

Last June, Angola’s Minister of Mineral Resources and Oil, Diamantino Azevedo, said in Vienna, Austria, that measures will be taken in August to increase production in the oil fields in natural decline and to ensure that new fields come into operation.

The minister was speaking at the end of the fourth meeting of the mechanism of cooperation between the members of the Organisation of Petroleum Exporting Countries (OPEC) and the countries that are producers but are not members of the cartel, which brings together 25 countries and a representative of the African Petroleum Producers’ Organisation (APPO).

At the meeting a quote of 1.637 million bpd was set for Angola, with production in the last six months totalling about 1.5 million bpd. (macauhub)