Luanda –Oil production in Angola might record this year an increase of 2% after the 12% decline observed in 2020 and 2021, and an increase in revenue evaluated in 40 billion kwanzas, estimated Monday in Luanda the international expert on oil and gas and Petroleum Regulation, Patrício Wanderley Kingongo.
Speaking to ANGOP, Patrício Kingongo said that these perspectives represent a gain, because the companies and operators have worked to increase production.
According to the expert who is also the director of Petro Angola consulting company, with the revised scenarios, such as the slight increase in oil price in the international market, it is foreseen crude oil revenues estimmed at USD 40 billion, of which the State could collect more than 15 billion, an increase considered a “strong milestone” that represents an impact of Angolan production.
The expert added that gross oil revenues in 2021, was at USD 27 billion with the import of 394 million barrels of oil, with the oil companies that operate in Angola exporting over USD 17 billion of the global value.
This value was exported through the provision of services and the payment of investments made by multinationals, especially TotalEnergies, Esso, BP, Chevron and SSI.
Of the global value, Angola was left with around 10.3 billion which was reversed in taxes paid to the State by the exports of the operators and more than 290,000 oil barrels daily (KBPD) which the country is entitled to.
Oil production in Angola is estimated at 1.1 million barrels per day, but the country has a production quota attributed by the Organization of the Petroleum Exporting Countries (OPEC) of 1,5 million barrels daily.
Angola is currently the largest oil producer on the African continent, overtaking Nigeria, whose production exceeded that of all African countries, until recent periods.
