RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2018-08-13 13:30:00

ANGOLA'S OIL EXPORTS UP TO 1.63 MBD

ANGOLA'S OIL EXPORTS UP TO 1.63 MBD

PLATTS - Angola's crude oil exports rebounded to a four-month high of 1.63 mil b/d in June even as the OPEC member struggles to arrest declines at some of its ageing deepwater oil fields, finance ministry data showed Friday.

Angola exported 1,627,697 b/d in June compared with 1,425,269 b/d in May but close to the 2017 average export volume of 1,632,766 b/d, according to ministry data.

The country exported a total of 48,830,908 barrels of crude in June at an average price of $71.03/b compared with 44,183,339 barrels of crude in May at an average price of $64.80/b.

There is expected to be a recovery in Angolan oil production as Total's 230,000 b/d Kaombo field started up in late July,

The Angolan oil ministry had reported to OPEC that output in June averaged 1.45 million b/d compared with 1.49 million b/d the previous month.

However, the country's sole refinery in Luanda has been down in June and July which could explain a rise in exports in June, according to sources.

The fall in exports in the past year reflects a similar trend in Angolan oil production, owing to technical and operational problems, especially at its offshore fields, as well as a lack of upstream investment. Production peaked at around 1.9 million b/d in 2008.

Angolan crude export cargoes normally trade more than a month in advance.

The June Angolan export program was released mid-April and trading for those cargoes took place from then to mid-May, meaning the June average price reflects oil prices during that period.

The average price is indexed to the market price, not the tax reference price determined by the oil and finance ministries, and stocks are not included.

-----

Earlier:

 RUSSIA DISCUSSES AFRICA'S NUCLEAR
2018, March, 9, 13:15:00

RUSSIA DISCUSSES AFRICA'S NUCLEAR

WNN - Russian Foreign Minister Sergey Lavrov is this week discussing the prospect of closer economic and political ties, including nuclear energy projects, in a number of African countries. Lavrov has so far visited Angola, Namibia, Mozambique and Zimbabwe, and will complete his trip to the region in Ethiopia.

 WBG - AFRICA'S ECOMOMIC DIFFICULTIES
2017, April, 12, 17:30:00

WBG - AFRICA'S ECOMOMIC DIFFICULTIES

Nigeria, South Africa, and Angola, the continent’s largest economies, are seeing a rebound from the sharp slowdown in 2016, but the recovery has been slow due to insufficient adjustment to low commodity prices and policy uncertainty. Furthermore, several oil exporters in the Central African Economic and Monetary Community (CEMAC) are facing economic difficulties.

 CHINA: THE LARGEST IMPORTER
2017, April, 6, 18:50:00

CHINA: THE LARGEST IMPORTER

China, the world’s largest crude oil net importer, increased the share of its crude oil imports from countries outside the Organization of the Petroleum Exporting Countries (OPEC) in 2016. Of the country’s 7.6 million barrels per day (b/d) of 2016 crude oil imports, 57% came from OPEC countries, led by Saudi Arabia (13% of total imports), Angola (11%), Iraq (10%), and Iran (8%).

 OPEC STRATEGY UNCHANGED
2015, December, 4, 21:40:00

OPEC STRATEGY UNCHANGED

Brent crude oil, the international benchmark, has fallen 40 per cent over the past year, decimating the budgets of Opec’s weaker members like Angola and Venezuela. The price crash has slowed the growth of US shale, Canada’s tar sands and other sources of high-cost oil but the market remains oversupplied by at least 1m barrels a day.

 TOTAL FOR ANGOLA: 2 BLN BBL
2015, May, 28, 18:15:00

TOTAL FOR ANGOLA: 2 BLN BBL

Total has achieved the significant milestone of producing a cumulative two billion barrels from its operated deep offshore Block 17 located 150 km off the coast of Angola. With the recent start up of CLOV, Block 17 has become Total’s most prolific site with production of over 700,000 barrels per day.

 CHEVRON: $10 BLN MISSTEPS
2014, September, 19, 17:50:00

CHEVRON: $10 BLN MISSTEPS

Chevron vows to use 'lessons learned' after Angola LNG missteps

 

 ANGOLA: WEALTH FOR THE ELITE
2014, June, 5, 18:55:00

ANGOLA: WEALTH FOR THE ELITE

Vast oil reserves have boosted economic growth but the wealth remains concentrated among the elite

 

 

Tags: ANGOLA, OIL, EXPORTS