China Bought 71% of Angola’s Oil in 2020

 

China bought 71% of Angola’s oil in 2020, according to data from the Angolan Ministry of Mineral Resources, Oil and Gas.

The 2020 Crude Oil and Gas Exports report, which analyzes Angola’s energy sector, puts China well ahead of the second buyer, India (5.87%) and Thailand (4.34%).

The report released by the Government says Angola’s oil and gas exports fell 7.26% last year, to USD 18.2 billion, 0r 1.22 million barrels per day.

A total of 446,394,014 barrels were exported, valued at a weighted average price of USD 40.9 per barrel, which resulted in gross revenues of USD 18,296 billion.

In relation to 2019, there was a 7.26% decrease in crude oil exports.

Oil Price Rise Could Lead Angola to Budget Surplus

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