Page 9 - AfrOil Week 08 2022

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Prime Minister Mohamed Hussein Roble The company described itself in a February 19
endorsed the president’s decision, describing press release as focused on East Africa and said
Ahmed’s dealings with Coastline Exploration as it had entered into negotiations with the Somali
“unacceptable” and “illegal.” In his own post on Petroleum Authority (SPA) within the frame-
Twitter, Roble declared that he intended to “take work of the country’s current licensing round.
all appropriate measures to protect our national That press release has since been removed
resources.” from the company’s website, but it is still
The two Twitter posts represent a rare available via distribution channels such as PR
show of unity for Mohamed and Roble. Rela- Newswire.
tions between the Somali president and prime According to other sources, Coastline Explo-
minister have often strained, and the former ration was founded in 2018, and its CEO W.
announced in September that he was suspend- Richard Anderson is a former member of the
ing the latter’s executive powers, particularly board of directors of Eurasia Drilling Co. (EDC),
Roble’s ability to appoint and remove gov- established on the basis of onshore drilling assets
ernment officials, until after the presidential formerly owned by Russia’s Lukoil. EDC’s cur-
election. rent CEO Alexander Djaparidze also serves on
Little is known about Coastline Exploration. Coastline’s board. ™

PERFORMANCE
Angola reports oil revenues up as

export volumes decline in Q4-2021

ANGOLA ANGOLA exported around 98.9mn barrels absorbed 61.57% of Angola crude exports in the
of crude oil in the fourth quarter of last year, October-December period, they said, followed
equivalent to about 1.7mn barrels per day (bpd), by India at 11.87%, Thailand at 4.9%, Gibraltar at
according to official data presented in Luanda 2.52% and Canada; Italy, South Africa and Spain
on February 17. with around 2.4% each.
Luis Manuel, the head of the international For the full year of 2021, they added, China
distribution arm of Angola’s national oil com- accounted for fully 71.51% of Angolan oil
pany (NOC) Sonangol, said data on oil and gas exports, and India took second place with
exports showed that international oil compa- 7.02%. ™
nies (IOCs) had made up about 59.62% of total
exports by volume, or around 1.01354mn bpd,
in the fourth quarter. Meanwhile, he explained,
the remaining 686,460 bpd, or 40.38%, was split
24.59% to Sonangol and 15.79% to Angola’s
national concessionaire, the National Agency of
Petroleum, Gas and Biofuels (ANPG).
Manuel went on to say that crude oil exports
had generated a total of $7.83bn in revenues
between October and December of 2021.
José Barroso, Angola’s secretary of state for
oil and gas, defined this figure as gross oil export
revenues and pointed out that it had risen by
51.5% on the number posted in the same period
of 2021, even though the total volume of crude
exports dropped by 11.69% year on year. This
happened because of the rise in world oil prices,
he stated, noting that benchmark Brent crude
prices had averaged $79.76 per barrel in the
fourth quarter.
Manuel agreed, noting that IOCs, Sonangol
and ANPG had all seen export volumes decline
year on year in the October-December period.
The two officials reported that Asian coun-
tries had been the top destination for Angolan
oil exports in the fourth quarter of 2021. China Sonangol accounted for more than 40% of oil exports in Q4-2021 (File Photo)

Week 08 23•February•2022 www. NEWSBASE .com P9