Angola’s Secretary of State for Oil and Gas, José Barroso, has announced that the country has recorded a 3% increase in crude oil exports during the fourth quarter of 2021. An estimated 98.9 million barrels of oil had been exported during this time period, cumulating $7.8 billion in revenues between October 2021 and December 2021. Angola’s national oil company, Sonangol, and the country’s exclusive concessionaire for oil and gas exploration and production, the National Agency for Oil, Gas and Biofuels (ANPG), sold approximately 40 million barrels of oil in the fourth quarter of 2021, achieving gross revenues of approximately $3 billion. The International Monetary Fund (IMF) has hailed Angola’s improved governance, projecting that the country’s economy is expected to grow by an estimated 4% in the medium term.
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