Crude oil output from Angola, OPEC's newest member and the second-biggest oil producer in sub-Saharan Africa, rose 12.9 % in 2006 to a record 1.412 mm bpd, the US Energy Information Administration said. EIA, the statistical and analytical wing of the Department of Energy, said it expected Angola's output will reach 2 mm bpd by 2008 "when new deep-water production sites are expected to come online." EIA said it concurs with a recent World Bank estimate that Angola's output will likely peak in 2011 at 2.6 mm bpd, followed by declines, barring any new oil discoveries. Angola's oil consumption inched up to 62,000 bpd, from 58,000 bpd a year ago, allowing for exports of 1.35 mm bpd. Angola has consistently been the top crude oil source for China, the world's second-biggest oil consumer behind the US, EIA said, with November imports averaging 477,000 bpd. Preliminary US data for November show Angola was the seventh-biggest source of crude imports in the first 11 months of 2006, at an average of 504,000 bpd, a 10 % gain from a year ago. Angola officially joined the Organization of Petroleum Exporting Countries on Jan. 1, agreeing to pay EUR 2 mm in annual dues. But Angola isn't party to OPEC's current output restraint agreements. OPEC has pledged to cut its oil output by 1.7 mm bpd in a move designed to soak up excess global inventories and support crude oil prices. The second phase of the cuts -- some 500,000 bpd -- is set to be put in place Feb. 1, but won't involve Angola. Source: Dow Jones Newswires
quarta-feira, 14 de fevereiro de 2007
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