Oil exports decline 5.3 million barrels

Luanda – Angola exported during the third quarter of this year, 116.4 million barrels, at an average price of USD 62.8 per barrel, a decrease of 5.3 million barrels compared to the second quarter of 2019.

Reduction in exports was due to natural production decline.

Compared to the third quarter of 2018, export volumes decreased by nearly 15.3 million barrels.

Exports for the third quarter of 2019, according to the sector performance report presented today in Luanda, resulted in gross revenues of US $ 7.3 billion.

The main destinations for Angolan crude oil exports were China and India, with 61% and 12%, respectively, according to the document.

The share of quarterly exports from Sonangol and the National Concessionaire is 33.2 percent.

Source: Angola Press News Agency