Decline of oil production in Angola, currently standing at around 115,000 barrels/day, is causing daily losses of USD 6 million, the CEO of PetroAngola Patrício Quingongo said on Wednesday.
Speaking at the International Conference on Oil, Gas and Renewable Energies, taking place in Luanda, the manager said that Angola supply in the global market represents merely 1 percent resulting from the current production levels of a daily average of 1, 1 million barrels.
Patrício Quingongo put the exports and production differential at 3%, adding that Angola exports almost everything it produces.
He estimated an export, up to this month, of 103,000 barrels of oil/day and a decline in exports of 7% .
As for the prices, calculations compiled by the specialist point out the Brent, as a reference for Angolan branches, with an average, to date, of USD 67.3.
