Angola exports 121.9 million barrels of oil in the second quarter of 2019

31 July 2019

The export of 121.9 million barrels of crude oil in the second quarter of 2019 provided companies operating in the sector in Angola with revenues of US$8.5 billion, according to official figures released on Tuesday in Luanda.

Data released by the National Directorate of Markets and Trade Promotion of the Ministry of Mineral Resources and Oil

showed that there was an increase of 65,400 barrels compared to the first quarter of 2019 but a reduction of 7.2 million barrels compared to the same quarter last year.

China and India with shares of 69% and 10%, respectively, were the countries that bought the most oil from Angola during the second quarter.

Angola’s national oil company, Sonangol sold 47.6 million barrels in the period under review and had revenues of US$3.3 billion, which compares with 45.1 million barrels and revenues of US$2.8 billion in the first quarter.

Figures from Sonangol, presented by the head of the ministry’s National Directorate of Markets and Sales, Gaspar Sermão, showed that average daily sales reached 523,700 barrels, at an average price of US$69.5.

Sonangol also spent US$580.3 million on importing 886,000 tonnes of fuels, according to the Angop news agency.

The Ministry of Mineral Resources and Oil discloses the activities of Sonangol and the international companies operating in Angola on a quarterly basis in order to monitor the evolution of the oil market in the country. (Macauhub)