Angola Earns $6.2 Billion from Oil Exports in Q3 2025, Down 22% from Last Year
Luanda, Angola — Angola earned US$6.2 billion from crude oil exports in the third quarter of 2025, marking a 22.24% decline compared to the same period in 2024, according to data released on Thursday by the Ministry of Mineral Resources, Oil and Gas.
The report revealed that Angola exported approximately 91 million barrels of crude oil between July and September 2025, representing a 10.91% drop year-on-year.
Oil Prices and Market Conditions
Speaking at the presentation of the quarterly report, Secretary of State for Oil and Gas, José Barroso, said that the international price of Brent crude experienced significant volatility during the period, maintaining a downward trajectory overall.
“In the third quarter, we saw a decline in prices, with Brent averaging around US$69 per barrel, lower than in the previous quarter,” Barroso said. “However, compared to the second quarter of this year, both export volume and revenue grew by 7.19% and 9.25%, respectively.”
Barroso attributed the weaker export performance to geopolitical tensions, fluctuating global demand, and increased competition from other oil-producing nations.
Global and Regional Influences
The Secretary of State noted that Angola’s oil revenues will likely remain under pressure due to low prices but expressed optimism that geopolitical developments could stabilize the market.
“Agreements between Israel and Hamas could help bring more stability,” he said. “However, increased output from countries such as Iran and Asian producers may continue to exert downward pressure on prices.”
Despite these challenges, Angola remains focused on maintaining production above one million barrels per day, a key national target.
“Declining production due to the maturity of oil fields remains our main challenge,” Barroso added. “We are implementing new projects to offset these losses and sustain output levels through 2027 to 2030.”
He acknowledged that occasional declines below one million barrels per day are expected due to maintenance work on production facilities but stressed that the government is committed to long-term stability in the sector.
Production Outlook and Export Markets
In September, Angola recorded the lowest monthly performance of the quarter, exporting 28.5 million barrels and earning US$1.9 billion in revenue.
China remains Angola’s top crude oil buyer, accounting for 59.63% of total exports, followed by India (8.59%), Indonesia (7.61%), and Spain (4.13%).
On the natural gas front, Angola exported about 1.6 million metric tons during the quarter, with Liquefied Natural Gas (LNG) representing 88.62% of total gas exports. These shipments generated US$900.7 million, with most volumes destined for Asian markets.
Future Prospects
Barroso emphasized that Angola’s oil and gas strategy is focused on maintaining output, attracting investment, and boosting efficiency in exploration and production.
“We are working to sustain production levels while exploring new reserves to ensure long-term energy security,” he said. “Our goal is to preserve Angola’s role as one of Africa’s leading oil exporters.”
Despite global market turbulence and declining prices, Angola’s oil sector remains resilient. The government is banking on new exploration projects, improved infrastructure, and stable policy frameworks to sustain production levels and support economic growth in the years ahead.
