Angola’s crude oil export revenues down 30pc in Q1



Angola exported 87.92 million barrels of crude oil, generating 6.92 billion U.S. dollars in revenues in the first quarter of 2023, according to Secretary of State for Petroleum and Gas Jose Alexandre Barroso.

Compared to the same period last year, there was roughly a 30 percent drop in export revenues. In the first quarter of 2022, Angola exported 98.38 million barrels, generating 10.14 billion U.S. dollars, according to data from the petroleum and gas ministry.

China remains the leading destination for Angolan exports, accounting for over 50 percent of the total quota in the first quarter, followed by the Netherlands (9.95 percent), India (7.85 percent), and Spain (6.76 percent).— Xinhua