Luanda, July 24, 2025 (Lusa) - Angola exported 83.6 million barrels of crude oil in the second quarter of 2025 and earned $5.6 billion, reflecting a 13.6% reduction compared to the same quarter last year, authorities announced on Thursday.

Angola’s Ministry of Mineral Resources, Oil and Gas released oil and gas production data for the second quarter of 2025 today. The volume of oil exported decreased by 3.82% compared to the previous quarter, worth around €4.7 billion.

Exports in the second quarter recorded a 12.5% decrease compared to the previous quarter and a 29.81% decrease year-on-year.

Angola’s Secretary of State for Mineral Resources, Jânio Correia Vítor, explained that during the period under review, oil prices on the international market showed marked volatility, resulting from the combined influence of geopolitical, economic and market factors.

“The worsening trade war between the United States of America (USA) and China, the reciprocal imposition of high tariffs, increased production by OPEC+, Kazakhstan and Guyana, and the accumulation of stocks of crude oil and refined products in the USA mainly drove the downward pressure on prices,” he said.

During this period, 31.52% of the volume exported belonged to the National Agency for Petroleum, Gas and Biofuels (ANGP) and 16.21% to Sonangol, followed by Azule Energy (13.58%), Total Energies (13.02%), ESSO (8.04%), Equinor (5.63%), SSI and Cabgoc with 5.59% and 4.84%, respectively.

China, with 55.33%, was the main destination for Angolan oil exports, followed by Indonesia (9.19%), India (9.18%) and the Netherlands (5.91%).

Natural gas exports in April, May and June totalled around 1.35 million metric tonnes, with LNG (liquefied natural gas) accounting for the lion’s share, resulting in revenues of US$754.7 million (€642 million).

DAS/ADB // ADB.

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