Angola Oil Output Drops Below 1.04 Million Barrels Per Day in August While LNG Surges
Angola’s oil production fell short of government targets again in August, averaging 1.03 million barrels per day, marking the sixth consecutive month of underperformance.
According to the National Agency of Petroleum, Gas, and Biofuels (ANPG), total production reached 32.07 million barrels in August, equivalent to a daily average of 1,034,655 barrels, compared to the forecast of 1,086,727 barrels per day.
The country has consistently missed its production targets since March, with daily output fluctuating between 998,000 and 1 million barrels, below state projections.
ANPG attributed the shortfall to scheduled shutdowns, natural reservoir declines, and technical constraints limiting installed capacity.
In contrast, liquefied natural gas (LNG) production outperformed expectations. Angola LNG reported 4.93 million barrels of oil equivalent in August, approximately 9 percent above forecast, highlighting the growing role of LNG in Angola’s energy sector.
While oil production remains below target, the performance of the LNG segment underscores its increasing contribution to Angola’s energy mix and revenue streams, signaling a potential shift in focus for future energy development.
