Angola's Oil Exports Could Drop to 2006 Lows

June 19, 2018

World Energy Reports LLC.
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Angola's preliminary crude oil export plan for August includes 43 cargoes, down from July's 48 cargoes, according to a loading program on Tuesday.

The schedule, which equates to a daily rate of around 133,000 barrels per day, will be the smallest since the 132,000 bpd registered in December 2006, based on Reuters data.

The preliminary schedule is issued to buyers to give them an indication of what will be available, but often excludes one or two small grades, meaning the final plan is subject to change.

Output in Africa's second-largest exporter has been steadily falling because of a lack of investment in its ageing offshore oilfields due to a oil price crash that began in 2014.


(Reporting by Amanda Cooper; Editing by Louise Heavens)

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