Angola oil exports to fall, output below OPEC target

LONDON, Dec 18 (Reuters) – Angola is set to export 1.80 million barrels per day in February, down 70,000 bpd from the previous month, its second consecutive monthly decline, trade sources said on Tuesday.

Fewer loadings of Nemba, Girassol, Dalia, Hungo and Kissanje crudes in February offset a rise in Palanca, traders said.


Angola exports nearly all of its oil production, consuming only around 62,000 bpd domestically. As a result, output can be pegged at around 1.86 million bpd for February.

That is just under Angola’s oil output target of 1.9 million bpd, set by OPEC earlier this month and effective from Jan. 1.

The second-largest oil producer in sub-Saharan Africa is expected to boost its supply capacity to 2 million bpd during the first half of next year.

But analysts and some OPEC officials believe the country will not be able to sustain such a level throughout 2008.

Reuters