Angola earned $11.8 billion in the second quarter of this year, with the export of 103.6 million barrels of crude oil, up 75.5% compared to the same period in 2021, according to official figures cited by Lusa.

The data are from the Crude Oil and Natural Gas Export Balance for the second quarter of 2022 presented today by the Ministry of Mining, Oil and Gas Resources.

During the period in question the average price per barrel of oil was 113.91 and 1.139 million barrels per day were exported. The main destinations of exported crude oil were China, with 54.9%, India, with 7.34%, the Netherlands, with 6.42%, and Italy, with 6.34%.

Gross revenue collected represented an increase of 116.6% compared to the first quarter of 2022 and 75.5% compared to the same period in 2021.

Of the total volume exported, 26.18% belongs to the National Oil and Gas Agency and 14.53% to Sonangol, the state oil company, while TotalEnergies was responsible for the export of (14,15%), ESSO (9,81%), BP (9,17%), Eni (6,32%), SSI (6,31%), Cabgoc and Equinor, with 6,30% and 5,60%, respectively.

The price of crude oil was positively influenced in the international market by the sanctions imposed on Russia by the West, which resulted in a drop in its oil and gas production, the maintenance of the gradual increase in crude oil supply by OPEC+, the agreement by the European Union to cut up to 90% of Russian oil and refined product imports and the drop in production by Libya and Ecuador, as well as the easing of restrictions on the covid-19 pandemic by China. (Lusa)