Africa-Press – Angola. The economic studies department of Banco Fomento Angola (BFA) estimated that oil and gas production in Angola fell 10.2% in the second quarter of this year, producing one million barrels per day.
“According to data from the National Oil and Gas Agency (ANPG), oil production contracted again in the second quarter of 2025, falling by around 10% compared to the same period last year, to 1.0 million barrels per day, reflecting the structural trend of decline in national crude oil production,” the analysts write.
In a comment on the evolution of the Angolan economy, sent to clients and to which Lusa had access, analysts at Banco Fomento Angola say that, “natural gas production, which had grown 3.3% in the first quarter, reversed its trajectory and fell 8% in the same quarter”, that is, from April to June of this year compared to the same period in 2024.
“Based on these results, we estimate that the oil sector as a whole will have contracted by around 10.2% in the second quarter of 2025,” the analysts conclude. Angola left OPEC (Organization of the Petroleum Exporting Countries) in December 2023 due to a disagreement over the production quota limit of 1.17 million barrels per day.
At the time, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, stated that the decision was made after careful analysis and that Angola no longer saw any advantages in remaining in OPEC, especially with the production limitations that the organization imposed.
Since 2023, Angola has failed to exceed its average production of 1.1 million barrels per day. Angola joined OPEC in 2006 and has since been one of the largest oil producers in sub-Saharan Africa.
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