The balance of crude oil and natural gas exports was presented on Monday in Luanda by the Secretary of State for Oil and Gas, José Alexandre Barroso, pointing to the evolution of the Brent price in the first three months of this year.
The dated Brent (the price of crude oil to be delivered in the short term on the international market) recorded an average price of US$81.17 per barrel, with 87.92 million barrels of crude oil valued at US$6.92 billion having been exported, the main destination of which was China (over 50%).
In the first quarter of 2022, according to figures from the Ministry of Mineral Resources, Oil and Gas consulted by Lusa, Angola exported 98.38 million barrels at an average price of US$103.83, generating revenues of US$10.14 billion.
The slowdown in the global economy and expectations of rising interest rates by central banks, and relatively lower demand for fuel were some of the factors influencing the dated Brent price, according to the secretary of state.
On the other hand, the recovery of the Chinese economy, the decrease in production in Russia, and the interruption of production in Iraq have favorably influenced the recovery of prices in this period.
As for gas, exports reached 1.11 million metric tons worth US$948 million.
“It should be noted that gas exports in the quarter under review represented an increase of 3.61% when compared with the previous quarter, although the value resulting from the sale of these volumes proved to be lower by 36.58% compared with the first quarter, the result of lower gas prices on the international market,” stressed José Alexandre Barroso.
With information from Lusa