Oil production records slight increase in April

Angola’s Oil production stood at 31.6 million barrels in April this year, with a slight increase of 1.6 million barrels compared to the previous period.

Last March the production was 30.059 million barrels of crude oil, which accounted for a daily average of 969,646 barrels of oil per day (BOPD) against the predicted 1.067 million.

The average daily production for April was 1.055 million barrels of oil against the 1.177 million forecast, according to the monthly summary published by the National Agency of Petroleum, Gas and Biofuels (ANPG).

In the first quarter this year, the country produced 94.134 million barrels of oil, according to data compiled by ANGOP.

Of the total production, Angola exported 87.9 million barrels of crude oil in the first quarter of this year, worth USD 6.9 billion, 14.82% less than the previous period.

At a weighted price of USD 78.711 per barrel (BBL), the volume of exports fell 5.56% compared to the 4th quarter of 2022, and compared to the same period, there was 10.59%, according to data recently released by the Ministry of Resources Minerals, Oil and Gas (MIREMPT).

For this economic year of 2023, the General Budget proposal has a reference price of USD 75 per barrel of oil, and an average daily oil production of 1.18 million barrels.

Associated gas rises

The production of associated gas also recorded an increase of 6.853 million cubic feet during the month of April. During this period, 81,240 million cubic feet were produced, corresponding to a daily average of 2.708 million cubic feet (MMSCFD).

Of this volume, 1,517 MMSCFD are injected, 556 MMSCFD provided by the Angola LNG factory and 337 MMSCFD for power generation at oil installations.

The Angola LNG plant had a production of 3,568 million oil equivalent (BOE), corresponding to a daily average of 118,947 barrels of oil equivalent (BOEPD) of LNG gas – liquefied natural gas, propane and butane.

Source: Angola Press News Agency (APNA)