Luanda, April 24, 2025 (Lusa) - Angola raised $6.4 billion (€5.7 billion) from oil sales in the first quarter of this year, a decrease of 18% compared to the same period in 2024, the government announced on Thursday.
The figures were released by the secretary of state for petroleum, José Barroso, at the presentation of details of the oil industry's performance in the first quarter and the projections for the second quarter of this year.
In the period under review, the country exported 85.1 million barrels of crude oil, a decrease of 13.5% compared to the fourth quarter of 2024 and of 9.8% year-on-year.
Barroso pointed out that there was also a 12.65% decrease in the amount collected compared to the last three months of last year.
China was the main destination for Angola's oil exports, accounting for 63.80%, followed by India with 10.29%, Indonesia with 6.43% and Spain and Malaysia with 3.40% and 3.22% respectively.
The secretary of state said that natural gas exports in the period under review totalled around 1.1 million metric tonnes, with Liquefied Natural Gas (LNG) accounting for around 86%. Exports of LNG were down 5.5% in the quarter from the fourth quarter of last year, but up 19.27% from the first quarter of 2024.
The state pocketed $758.7 million (€679.5 million) from gas exports, "which represents an increase of approximately 0.21% compared to the previous quarter and around 87.20% compared to the same quarter in 2024," Barroso noted.
"This growth was fundamentally the result of rising gas prices on the international market," he explained.
Europe was the biggest destination for LNG, accounting for 92.66% of the total, with the Netherlands standing out as the main destination, absorbing around 42.9% of the total volume exported.
The secretary of state for petroleum emphasised that during the period in question, the price on the international market of Brent crude - the main European benchmark - showed a volatile trajectory, but was generally downward. This resulted from the combination of various factors, including a downturn in global demand for oil, resulting in an average price of $75.728 per barrel in the period.
NME/ARO // ARO.
Lusa
