Africa · AGO · OPEC
Angola
A deepwater Atlantic exporter in decline, still a Chinese term supplier. Cabinda barrels never saw the Strait.
Oil production
1.1 mb/d
0.1 mb/d demand
Net oil
+1.0 mb/d
Export surplus
Gas production
6 bcm
Net +5 bcm
O&G rent
24.0%
Fiscal breakeven $70
Oil balance
Production versus demand, 2025, million barrels per day.
Gas balance
Production versus demand, 2025, billion cubic metres.
Proven oil
8 bn bbl
Gas reserves
0.3 tcm
Refining
0.1 mb/d
LNG
5 bcm export
Hydrocarbon mix
Oil versus gas in this country’s oil-and-gas demand (oil-equivalent).
- Oil75%
- Gas25%
Economy
Sonangol and Chinese term contracts fund the state. New FPSOs slow the decline; they do not reverse it. LNG from Soyo is a second rent.
- GDP
- $0.1 tn
- Population
- 37.0 m
- Oil intensity
- 0.5 bbl /$1k
- Oil & gas rent
- 24.0% GDP
- Hydrocarbon trade
- -16.0% GDP
- Fiscal breakeven
- $70 /bbl
- $30 oil shock
- +118.2 pp GDP
- Club
- OPEC
Projected oil demand
Regional IEA WEO 2025 oil pathways applied to this country’s 2025 baseline. STEPS 2035 demand 0.2 mb/d (net +1.0) versus NZE 0.1 mb/d (net +0.5).
| Scenario | 2025 | 2030 | 2035 | 2050 |
|---|---|---|---|---|
| Stated Policies | 0.1 | 0.1 | 0.2 | 0.2 |
| Net Zero 2050 | 0.1 | 0.1 | 0.1 | 0.1 |
| Current Policies | 0.1 | 0.2 | 0.2 | 0.2 |