By Bisola Adeyemo
Patricio Quingongo, CEO of specialized oil and gas consulting company PetroAngola, said Angola oil sector is losing 6 million U.S Dollars daily since its decline from producing oil.
Quingongo said this at the International Conference on Oil, Gas and Renewable Energy taking place in Luanda
While speaking at the event, Quingongo said Angola’s supply in the global market represents merely 1 percent resulting from the current production levels of a daily average of 1.1 million barrels of crude oil.
He said there is 72 billion USD estimation for this year’s gross revenues, Xinhua news agency reported
The PetroAngola chief added that besides COVID-19, other factors have also influenced the sector, such as cuts by the Organization of the Petroleum Exporting Countries (OPEC), oil demand, and the global economic recovery.
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