Luanda – Crude oil revenues reached US$39.94 billion in 2022, with growth of 43.77 percent against the same period of the previous year.
According to preliminary figures released Tuesday by the secretary of state for oil, José Barroso, 391.917 million barrels of crude oil were exported, sold at an average price of US$101.916.
Despite the volume of oil exported in 2022, there was a drop of 0.54 percent against 2021, but on the other hand the resulting value of that export represented an increase of 43.77 percent.
In 2021, oil revenues stood at US$27.2 billion, resulting from the export of 394.22 million barrels of crude.
An Angolan expert in oil and gas, Patrício Wanderley Quingongo, predicted in November 2022 that Angola would get US$15 billion, out of the total gross revenues collected via exports from operators and plus 290,000 barrels of oil per day (KBPD) to which the country is entitled to.
The remaining amount is exported through the provision of services and payment for investments made by the multinationals, notably TotalEnergies, Esso, BP, Chevron and SSI.
The main destinations of Angola’s crude oil exports were China and India, with 53.64% and 9.54% respectively.
In the field of exports of liquefied natural gas (LNG), butane, propane and condensates, in 2022, there were more than 4.27 million metric tons (MT), estimated at US$6.47 billion.
Overall, LNG, butane and propane were mostly exported to countries in Europe and Asia, according to Secretary of State Jose Barroso.
In addition to the preliminary 2022 data, the secretary of state for petroleum also presented the production results for the 4th quarter of 2022.
During the last quarter of 2022, Angola exported 89.32 million barrels, valued at an average price of USD 87.26, which corresponds to a gross value of USD 7.79 billion.
LNG, butane, propane and condensate exports in Q4 2022 totaled approximately 1.07 million metric tonnes, valued at approximately USD 1.49 billion.
Prices were influenced by the additional cuts, promoted by the Organisation of the Petroleum Exporting Countries and allies (OPEC+), to balance crude oil production, by the expectation of decreasing supply in view of the G7 measures, in limiting oil by Russia’s supply, among other factors such as the Covid-19 cases in China.
