Luanda - Angola exported a total of 96.37 million barrels of crude oil in the third quarter this year estimated at approximately 8.2 billion US dollars, the Secretary of State for Oil and Gas José Barroso said Wednesday.
According to the official, China was the main destination for Angolan crude oil exports with 62.81 percent, followed by Spain with 9.12 percent, France and the Netherlands with 5.42 percent and 4.87 percent respectively.
Barroso said during the period in reference, Brent Crude oil, which serves as a benchmark for Angolan exports, had an average price of 86,748 dollars per barrel.
The Secretary of State said several aspects led to the increase in oil prices, with emphasis on the extension of the production cuts until the end of 2023 by the Organization of the Petroleum Exporting Countries (OPEC)+.
Jose Barroso said Saudi Arabia's announcement to cut production by roughly two million barrels a day contributed to the reduction in the supply of crude oil on the international market and led to price rise.
The official explained that the measure by Saudi Arabia contrasted with the increase in demand for crude oil in China, Europe and the United States, where there was greater demand and consequently a rise in oil price.
In general, the Secretary of State said, the events allowed crude oil price to rise, with slightly higher sales recorded in the third quarter of 2023 in relation to the prior quarter, with 96 million metric tonnes sold at higher average price.
"We started the quarter with a price of 76 US dollars per barrel and ended it at 98 US dollars, which was generally positive for crude exports, especially Angolan crude," Barroso said.
As regards gas, exports in the first third quarter of 2023 totaled around 1.20 million metric tonnes, of which 78.70 percent was Liquefied Natural Gas (LNG) exports.
The official specified that the volume of gas exported is valued at approximately 610.16 million US dollars and that its exports in the quarter under review represent a slight increase of 0.46 percent.
The gas trade was 19.01% higher than the previous quarter, as a result of the rise in gas prices on the international market being Angola’s LNG mostly exported to Europe.HEM/PPA/AMP
