Angola oil & gas 2020 conference
As Africa’s second-largest oil producer Angola has vast petroleum wealth, which is licensed exclusively by Sonangol. It has ventures in a swath of other sectors, such as helicopters, telecoms Angola's oil production grew from 1 million to 2 million barrels per day, while the price of oil increased from the 20-30 dollar range to over $100 per barrel. Consequently, Angola became Africa's 3rd largest economy with a GDP of $120 billion in 2013. Nearly all of Angola’s oil production is exported because Angola’s domestic refining capacity is limited. The United States has imported oil from Angola since the 1970s, and Angola accounted for 5% of total U.S. crude oil imports between 2005 and 2009, supplying an annual average of 484,000 b/d during that period.