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Angola's oil revenue US$27.87 billion

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On February 17, Portuguese Lusa news agency reported. In 2021, Angola’s crude oil export revenue will be approximately US$27.87 billion.


Luanda holds a meeting on the summary of the oil and gas export report for the fourth quarter of 2021, the impact of the Covid-19 pandemic and the impact of OPEC+ decisions on Brent crude oil prices. Angola will export 394.22 million barrels of crude oil in 2021, with an average selling price of US$70.7 per barrel and a total revenue of US$27.87 billion, according to data provided by Angola’s Secretary of State for Oil and Gas, José Barroso, at the meeting. Although total crude oil exports in 2021 fell by 11.69%, total revenue in 2021 increased by 51.4% compared to 2020.


Angola’s crude oil exports are based on Brent crude prices, which averaged $79.76 a barrel in the last three months of 2021.


In 2021, Angola’s natural gas exports will be equivalent to about 4.48 million metric tons, with a unit price of about US$688.437 per metric ton and a total revenue of about US$3.08 billion. The main export destination is the Asian market. Compared with 2020, the export volume decreased by 20.16%, but the revenue increased because the average unit price in 2020 was about 198.691 US dollars per metric ton.