Angolan government calls on companies to increase oil production

17 May 2019

Angola’s minister of mineral resources and oil has called on oil companies operating in the country to cooperate in reversing the current drop in production, the ministry’s press service said.

The source also told state newspaper Jornal de Angola that during the meeting, which was attended by representatives of the concessionaire Agência Nacional de Petróleo, Gás e Biocombustíveis, Diamantino Azevedo called for production to remain at 1.49 million barrels per day.

The target is included as the average output in the 2018-2022 National Development Plan and in the proposal to revise the General State Budget for 2019 is set out as crucial for fiscal revenues.

The monthly OPEC oil market report for May shows that Angola’s oil output fell by 41,000 barrels per day (bpd) in April in monthly terms to 1.413 million bpd, according to secondary sources.

Based on direct communication, the OPEC report said Angolan production increased in April by 19,000 bpd to 1.392 million bpd. (Macauhub)