Luanda, July 30, 2026 (Lusa) - Angola earned $8.91 billion (€7.75 billion) from oil sales in the second quarter of the year, an increase of 54.71% compared with the same period last year, the government announced on Thursday.

Angola's Secretary of State for Mineral Resources, Jânio Correa Victor, released the figures during the presentation of the report on the oil and gas market for the second quarter of 2026.

This rise is due to «higher prices on the international market», he said.

According to the report, the average price of Brent crude during the period under review was $103.849 per barrel, up 28% from the previous quarter and 52.98% from the same period in 2025.

«In terms of sales, during the same period, Angola exported around 88.12 million barrels of crude oil, valued at approximately $8.91 billion, corresponding to a weighted average price of $101.087 per barrel,» emphasised Jânio Correa Victor.

The volume exported increased by 2.22% compared with the first quarter of this year and by 3.85% compared with the same period in 2025.

China remained the main destination for Angolan exports, accounting for 51.67% of the total, followed by India with 12.20%, Spain with 5.45%, and Indonesia with 5.08%, whilst Portugal received 0.85% of Angolan oil exports.

Regarding natural gas, exports during the period under review totalled around 1.52 million metric tonnes, with liquefied natural gas (LNG) accounting for 87% of the total.

Compared with the second quarter of 2025, these results showed a 10.74% increase in natural gas export volume.

MIM/ADB // ADB.

Lusa