India aims to strengthen its energy ties with Angola, as supplies from the African nation are crucial to the country’s energy security, President Droupadi Murmu said.
Murmu’s remarks were made during her four-day visit to Angola, as India seeks to diversify its crude sourcing strategy amid mounting international pressure to reduce Russian oil purchases.
“Angola is a key partner for India’s energy security needs, and New Delhi gives a lot of importance to its partnership with Angola,” she said during her visit. “Collaboration in the energy sector continues to strengthen economic ties.”
India imported 94,000 b/d of crude oil from Angola over January-October, making it the country’s seventh-largest supplier in that 10-month period, according to S&P Global Commodities at Sea(opens in a new tab). During the same period in 2024, India imported 114,000 b/d of crude from Angola. The key grades imported are Nemba, Dalia and Hungo.
Murmu said that overall bilateral trade between India and Angola has surpassed $5 billion, and further diversification could boost that figure even more. “As the world passes through a period of conflicts and uncertainties, countries of the Global South are particularly adversely affected,” Murmu said.
Trade diversification
During her visit, India and Angola also agreed to expand their trade and investment relations into new and emerging sectors, such as technology, agriculture, health, defense and infrastructure. They also agreed to continue collaborating to strengthen cooperation across various bilateral domains, as well as within the broader framework of the India-Africa Forum Summit, according to a statement from the Indian government.
Angola pumped 1.059 million b/d of crude in September, rising from 1.035 million b/d in August, data from its upstream regulator, the ANPG, showed Oct. 15. The September total marks the second successive month that production exceeded 1 million b/d, a key threshold for Angolan officials.
Oil exports are a key source of government revenue for Angola, which has brought several major projects online in the last quarter, including TotalEnergies’ Begonia and Clov phase 3 projects and Azule’s Agogo floating production, storage and offloading vessel.
In recent years, Angola has endeavored to increase oil output, which has declined from a peak of 1.9 million b/d in 2010 due to field maturation and limited exploration. Nevertheless, the country has garnered praise over the past two years for welcoming upstream investors of all sizes, offering incentives and flexible fiscal terms.
Source: Platts
