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$6.73 Billion Gross Revenue from the Export of Crude Oil in Angola
Posted On 23 Aug 2021
By Abdul Rahman Bangura–
Photo Credit: Oil field
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Gross incomes from the export of oil amounted to $6.73 billion, with the deal of 97.998 million barrels of crude oil during the following quarter of 2020, an increase of 0.11% against the initial three months of the year.
The volume shipped was around 1.77 million barrels per day, prized at a par weighted price of $68.625 per barrel, according to figures disseminated August 19th, 2021 by the Ministry for Mineral Resources, Oil and Gas.
Correlated to the early quarter of the same period, export volumes were down 13.89%. The impacts of oil and gas exports in the period under review were submitted by the Secretary of State for Petroleum – José Barroso, who remarked the surge in price to around $70, that was induced by the OPEC+ production cuts, the recovery of the global economy, the increase in demand at a world level, as well as the global Covid-19 vaccination action.
Leading exports were Dahlia with 11.57%, Mustard with 10.77%, Nemba with 9.63%, Cabinda with 8.60%, and Sunflower with 8.21%, out of a total of eighteen tracts. Likewise according to the announcement, the average export price listed a boost of 151.85% approximated to the period of 2020, which at the time was $27.248 per barrel.
Correlated to the first quarter of 2021, there was an improvement of 11.25%, when the price was set at $61.683 per barrel.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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