Cabinda
Cabinda Price
| Date | Price US$ per bbl | Price US $ per MT | Long Tons | US Gallons,$ |
|---|---|---|---|---|
| 2023-02-17 | $84 | 619 | 629 | 2.01 |
| 2023-02-16 | $86 | 632 | 642 | 2.05 |
| 2023-02-15 | $85 | 625 | 635 | 2.03 |
| 2023-02-14 | $87 | 636 | 646 | 2.06 |
| 2023-02-13 | $86 | 631 | 641 | 2.05 |
| 2023-02-10 | $85 | 621 | 632 | 2.02 |
| 2023-02-09 | $85 | 626 | 637 | 2.03 |
| 2023-02-08 | $84 | 616 | 626 | 2 |
| 2023-02-07 | $82 | 604 | 614 | 1.96 |
| 2023-02-06 | $80 | 590 | 599 | 1.91 |
| 2023-02-03 | $82 | 604 | 614 | 1.96 |
| 2023-02-02 | $83 | 610 | 620 | 1.98 |
| 2023-02-01 | $85 | 625 | 635 | 2.03 |
| 2023-01-31 | $84 | 614 | 624 | 2 |
| 2023-01-30 | $86 | 628 | 638 | 2.04 |
| 2023-01-27 | $87 | 640 | 650 | 2.08 |
| 2023-01-26 | $86 | 630 | 640 | 2.04 |
| 2023-01-25 | $86 | 632 | 642 | 2.05 |
| 2023-01-24 | $88 | 642 | 652 | 2.08 |
| 2023-01-23 | $87 | 639 | 650 | 2.08 |
| 2023-01-20 | $86 | 633 | 643 | 2.06 |
| 2023-01-19 | $84 | 615 | 625 | 2 |
| 2023-01-18 | $86 | 633 | 644 | 2.06 |
| 2023-01-17 | $84 | 619 | 629 | 2.01 |
| 2023-01-16 | $84 | 617 | 628 | 2.01 |
| 2023-01-13 | $83 | 611 | 621 | 1.99 |
| 2023-01-12 | $82 | 604 | 614 | 1.96 |
| 2023-01-11 | $77 | 567 | 576 | 1.84 |
| 2023-01-10 | $77 | 566 | 576 | 1.84 |
| 2023-01-06 | $77 | 564 | 573 | 1.83 |
Cabinda Historical price
- In 2017 maximum price $65 per bbl (2017-12-26)
- In 2018 maximum price $50 per bbl (2018-12-26)
- In 2019 maximum price $69 per bbl (2019-12-26)
- In 2020 maximum price $52 per bbl (2020-12-25)
- In 2021 maximum price $76 per bbl (2021-12-24)
- In 2022 maximum price $82 per bbl (2022-12-26)
- In 2023 maximum price $84 per bbl (2023-02-17)
Cabinda Crude Oil: Understanding the Vitality of Angola's Key Resource
Crude oil is a vital commodity for many countries, and Angola is no exception. The African nation is home to Cabinda crude oil, a high-quality blend that has played a significant role in the country's economy. In this article, we delve into the importance of Cabinda crude oil and how it is shaping Angola's future.
Overview of Cabinda Crude Oil
Cabinda crude oil is a light, sweet blend extracted from the offshore fields in the Cabinda Province of Angola. It is characterized by its low sulfur content, making it a highly sought-after commodity in the global oil market. Cabinda crude oil is considered one of the best-quality crude oils in the world, with an API gravity of around 39 degrees, making it easier to refine into gasoline, diesel, and other petroleum products.
The Role of Cabinda Crude Oil in Angola's Economy
Angola is heavily dependent on its oil sector, with crude oil accounting for over 90% of the country's exports. Cabinda crude oil, in particular, is a significant contributor to Angola's economy, generating significant revenue for the government and providing employment opportunities for its citizens. The income generated from Cabinda crude oil is used to finance public projects such as infrastructure development, health, and education programs.
Additionally, the extraction of Cabinda crude oil has also spurred economic growth in the region. The oil industry has attracted foreign investment, creating new jobs and boosting the local economy. Furthermore, the presence of multinational oil companies in the region has led to the development of supporting industries such as transportation and logistics, providing further economic benefits.
Challenges Facing the Cabinda Crude Oil Industry
Despite its significance, the Cabinda crude oil industry is not without its challenges. One of the key challenges is the lack of infrastructure, which has hindered the development of the oil sector. For example, the lack of adequate transportation and storage facilities has limited the ability to transport crude oil efficiently, leading to bottlenecks in the supply chain.
Another challenge is the threat of instability in the Cabinda Province, where separatist groups have been seeking independence for decades. The conflict has resulted in security threats to oil installations, leading to disruptions in production and supply.
In conclusion, Cabinda crude oil is a vital resource for Angola, playing a significant role in the country's economy. While the industry faces challenges, the government is working to address these issues to ensure the continued growth and success of the Cabinda crude oil industry. By investing in infrastructure and promoting stability in the region, Angola can continue to reap the benefits of its valuable resource for years to come.
Cabinda Crude Oil: Understanding the Vitality of Angola's Key Resource
Crude oil is a vital commodity for many countries, and Angola is no exception. The African nation is home to Cabinda crude oil, a high-quality blend that has played a significant role in the country's economy. In this article, we delve into the importance of Cabinda crude oil and how it is shaping Angola's future.
Overview of Cabinda Crude Oil
Cabinda crude oil is a light, sweet blend extracted from the offshore fields in the Cabinda Province of Angola. It is characterized by its low sulfur content, making it a highly sought-after commodity in the global oil market. Cabinda crude oil is considered one of the best-quality crude oils in the world, with an API gravity of around 39 degrees, making it easier to refine into gasoline, diesel, and other petroleum products.
The Role of Cabinda Crude Oil in Angola's Economy
Angola is heavily dependent on its oil sector, with crude oil accounting for over 90% of the country's exports. Cabinda crude oil, in particular, is a significant contributor to Angola's economy, generating significant revenue for the government and providing employment opportunities for its citizens. The income generated from Cabinda crude oil is used to finance public projects such as infrastructure development, health, and education programs.
Additionally, the extraction of Cabinda crude oil has also spurred economic growth in the region. The oil industry has attracted foreign investment, creating new jobs and boosting the local economy. Furthermore, the presence of multinational oil companies in the region has led to the development of supporting industries such as transportation and logistics, providing further economic benefits.
Challenges Facing the Cabinda Crude Oil Industry
Despite its significance, the Cabinda crude oil industry is not without its challenges. One of the key challenges is the lack of infrastructure, which has hindered the development of the oil sector. For example, the lack of adequate transportation and storage facilities has limited the ability to transport crude oil efficiently, leading to bottlenecks in the supply chain.
Another challenge is the threat of instability in the Cabinda Province, where separatist groups have been seeking independence for decades. The conflict has resulted in security threats to oil installations, leading to disruptions in production and supply.
FAQs
1. What is the difference between Cabinda crude oil and other crude oils?
Cabinda crude oil is characterized by its low sulfur content and high API gravity, which makes it easier to refine into gasoline, diesel, and other petroleum products. It is considered one of the best-quality crude oils in the world, making it a highly sought-after commodity in the global oil market.
2. How much crude oil does Angola produce, and what percentage of it is Cabinda crude oil?
Angola is currently the second-largest oil producer in sub-Saharan Africa, with a total production of approximately 1.4 million barrels per day. Cabinda crude oil accounts for a significant portion of this production, with an estimated output of around 700,000 barrels per day.
3. Who are the major players in the Cabinda crude oil industry?
The Cabinda crude oil industry is dominated by multinational oil companies such as Chevron, Total, and Eni. These companies have invested heavily in the region, playing a significant role in the development and growth of the industry.
4. How does the Cabinda crude oil industry impact the environment?
The extraction and production of crude oil can have significant environmental impacts, including air and water pollution, habitat destruction, and the release of greenhouse gases. The Cabinda crude oil industry has implemented various measures to mitigate these impacts, including the use of advanced technologies and best practices in environmental management.
