Angola's oil exports to increase at the beginning of 2009
Angolan oil exports are expected to increase at the beginning of 2009 to close to the quota set by the Organisation
of Petroleum Exporting Countries (OPEC) of 1.9 mm bpd.
Figures published by the oil companies operating in Angolan showed that exports would total 1.88 mm bpd in February
2009, the shortest month of the year. Against January, when exports are expected to total 1.84 mm barrels, the
February figures show a rise of 40,000 bpd.
The projection for the in January points to a reversal in the downward trend in exports, which in December was 6 %,
reflecting production cuts imposed by OPEC in order to try to reverse the fall in oil prices on the international
market. In the middle of 2008 Angolan exports reached slightly above the OPEC quota at 1.91 mm bpd, ahead of what has
traditionally been Africa's biggest oil producer, Nigeria.
Angolan production rose 18 % in 2007, to a daily average of 1.61 mm barrels, according to figures from the
International Energy Agency (IEA).
