Data released by Jose Barroso, Angola’s Secretary of State for Petroleum, during a presentation on the oil industry’s first quarter performance and second quarter projections, revealed key insights into Angola’s oil exports.
During the review period, Angola exported 85.1 million barrels of crude oil, a 13.5% decrease from the fourth quarter of 2024 and a 9.8% decline compared to the same period last year.
Jose Barroso noted a 12.65% decrease in revenue compared to the last three months of the previous year.
China emerged as the major destination for Angola’s oil exports, accounting for 63.80%, followed by India at 10.29%, Indonesia at 6.43%, and Spain and Malaysia at 3.40% and 3.22%, respectively.
During the analyzed period, natural gas exports amounted to approximately 1.1 million metric tons, with Liquefied Natural Gas (LNG) accounting for about 86% of the total.
Gas exports increased by 19.27% compared to the same period in 2024, although there was a 5.5% decrease from the fourth quarter of the previous year.
The Angolan state earned $758.7 million (€679.5 million) from gas exports, marking a growth of approximately 0.21% from the previous quarter and an 87.20% increase over the same quarter in 2024.
“This growth was primarily due to rising gas prices on the international market,” explained Jose Barroso.
Europe was the largest market for LNG, receiving 92.66% of total exports, with the Netherlands being the primary recipient, absorbing roughly 42.9% of the total volume exported.
The Secretary of State for Petroleum highlighted that during the review period, Brent oil prices on the international market showed a volatile trend with an overall decrease, driven by several factors, including a decline in global demand for crude oil, with an average price of $75.728 per barrel.
