Angola exported 87.92 million barrels of oil worth a total of $6.92 billion (€6.27 billion) in the first quarter of 2023, down 30% from the same period last year.
The balance of exports of crude oil and natural gas was presented this Monday in Luanda by the Minister of Petroleum and Gas, José Alexandre Barroso, pointing to the dynamics of the price of Brent crude oil for the first three months of this year.
Dated Brent (price of crude oil for short-term delivery on the international market) recorded an average price of $81.17 (€73.65) per barrel with exports of 87.92 million barrels of crude oil worth $6.92 billion, that went mainly to China (more than 50%).
In the first quarter of 2022, according to data from the Ministry of Minerals, Oil and Gas seen by Lusa, Angola exported 98.38 million barrels at an average price of $103.83 (€94.2), raising $10.14 billion ( 9.19 billion euros). ).
According to the Secretary of State, the slowdown in global economic growth and expectations of higher interest rates by central banks, as well as the relative decline in demand for fuel were among the factors that influenced the price of the outdated Brent brand.
On the other hand, the recovery of the Chinese economy and the reduction in production in Russia and the suspension of production in Iraq favorably influenced the recovery of prices during this period.
In terms of gas, exports reached 1.11 million metric tons, worth $948 million (€892 million).
“It should be noted that gas exports carried out in the reporting quarter increased by 3.61% compared to the previous quarter, although the cost of selling these volumes was 36.58% lower compared to the first quarter, as a result of lower gas prices on the international market,” stressed José Alexandre Barroso.
Author: Portuguese
Source: CM Jornal
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