Luanda, July 21, 2025 (Lusa) - The economic studies department of Banco Fomento Angola (BFA) estimated on Monday that oil and gas production in Angola fell 10.2% in the second quarter of this year, producing one million barrels per day.

“According to data from the National Petroleum and Gas Agency (ANPG), oil production contracted again in the second quarter of 2025, falling around 10% compared to the same period last year, to 1.0 million barrels per day, reflecting the structural trend of decline in national crude oil production,” the analysts wrote.

In a commentary on the evolution of the Angolan economy, sent to clients and accessed by Lusa, analysts at Banco Fomento Angola say that “natural gas production, which had grown 3.3% in the first quarter, reversed its trajectory and fell 8% in the same quarter,” i.e. from April to June this year compared to the same period in 2024.

“Based on these results, we estimate that the oil sector as a whole will have contracted by around 10.2% in the second quarter of 2025,” the analysts conclude.

Angola left OPEC (Organisation of Petroleum Exporting Countries) in December 2023 due to a disagreement over production quota limits of 1.17 million barrels per day.

At the time, the minister for mineral resources, oil and gas, Diamantino Azevedo, said that the decision had been taken after careful analysis and that Angola no longer saw any advantages in remaining in OPEC, especially with the production limits imposed by the organisation.

Since 2023, Angola has been unable to exceed an average production of 1.1 million barrels per day.

Angola joined OPEC in 2006 and has since been one of the leading oil producers in sub-Saharan Africa.

MBA/AYLS // AYLS

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