ANGOLA · OIL AND GAS
Key Facts
- The country Angola, in southwestern Africa, is a major oil producer led by President João Lourenço.
- What happened The government said on 29 October that Angola oil exports earned US$8.33 billion in the third quarter.
- The price Angolan crude sold at a weighted average of US$93.83 a barrel, on about 88.74 million barrels.
- The buyers China took 39.86% of the crude and India 18.45%; the United States was not among the top four.
- The gas Gas export value fell to US$867 million after a scheduled plant shutdown halved LNG volumes.
Angola oil exports earned US$8.33 billion in the third quarter of 2026, the government said on Thursday 29 October. That is 6.71% less than in the second quarter but 31.82% more than a year earlier, with higher oil prices behind the gain.
The figures show what a high oil price is worth to a big African producer, and who buys its barrels. Our earlier report on second-quarter oil revenue gives the comparison.
In Plain English, Who Is Who
Sonangol is Angola’s state oil company, and the National Oil, Gas and Biofuels Agency (ANPG) regulates its oil and gas blocks. José Barroso, the Secretary of State for Oil and Gas, presented the third-quarter export figures.
LNG means liquefied natural gas, gas cooled into a liquid so ships can carry it. Angola LNG (ALNG) is the plant at Soyo, in the northwest, that turns gas from offshore fields into LNG for export.
How Angola Oil Exports Performed
Angola exported about 88.74 million barrels of crude in the quarter, the government said, at a weighted average price of US$93.825 a barrel. Volume was 2.87% lower than in the third quarter of 2025.
The gross value of the exports, US$8.33 billion, fell 6.71% from the second quarter. Against the third quarter of 2025 it rose 31.82%, a change Barroso linked to shifts on international markets.
Angola oil exports therefore earned more from fewer barrels than a year ago, since prices were higher. Our report on the oil price gap explains why the budget price sits far below market prices.
Who Buys the Barrels
China kept its place as the main buyer of Angola oil exports with 39.86% of the total, followed by India with 18.45%. Italy took 5.63% and Spain 5.03%.
The United States was not among the four largest destinations the government listed. Its share of Angolan crude was not given in the announcement.
Why Gas Exports Fell
Angola exported about 788,960 metric tons of natural gas products, of which 94.44% was LNG. That is 48.11% less than in the second quarter and 51.49% less than a year earlier.
Barroso blamed the drop on the scheduled maintenance shutdown of the ALNG plant. Gas exports still earned about US$867 million, 30.12% less than in the second quarter.
That value was only 3.40% less than a year earlier. India took 83.14% of the LNG, South Korea 8.64% and Indonesia 8.21%.
Third Quarter Against the Second
In the second quarter the government said Angola earned about US$8.91 billion from about 88.12 million barrels, at a weighted average of US$101.087 a barrel. The third-quarter price of US$93.825 was about US$7 lower, which is why value fell while volume held steady.
China bought 51.67% of Angolan crude in the second quarter and India 12.20%. In the third quarter China’s share fell to 39.86% while India’s rose to 18.45%, as our report on the oil price gap also shows.
What It Means for US Readers
For US readers the link is indirect, because the United States was not among the four largest buyers of Angolan crude this quarter. What matters is price: Angola received an average US$93.83 a barrel, the figure behind its dollar income from oil.
Our report on the 2027 budget proposal covers how the state plans its income. For background, read our Angola explainer and our guide to Angola’s geopolitics.
What Is Not Known
The figures do not show how much crude went to the United States. They also leave open how much of the US$8.33 billion reaches the state budget, and when LNG exports will recover.
More: Africa news in English, every day from The Rio Times.
Frequently Asked Questions
How much did Angola earn from oil exports in the third quarter of 2026?
Angola earned US$8.33 billion from crude oil exports, the government said on 29 October. That is 6.71% less than the second quarter and 31.82% more than a year earlier.
Who buys Angola’s oil?
China took 39.86% of the crude, India 18.45%, Italy 5.63% and Spain 5.03%. The United States was not among the four largest buyers.
Why did Angola’s gas exports fall?
The Angola LNG plant at Soyo was shut for scheduled maintenance. Gas export volumes fell 48.11% from the second quarter.
What oil price did Angola get?
Angolan crude sold at a weighted average of US$93.825 a barrel in the third quarter. That compares with US$101.087 a barrel in the second quarter, the government said.
Does this matter to US readers?
Mostly through world oil prices rather than direct purchases. The United States was not a top buyer of Angolan crude this quarter.
Sources: Government of Angola, Secretary of State for Oil and Gas José Barroso: crude oil and natural gas exports, third quarter 2026, 29 October 2026; Government of Angola, Secretary of State for Mineral Resources: crude oil and natural gas exports, second quarter 2026, 30 July 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief