September 29, 2009 / 3:06 PM / 10 years ago

Angola says expects to boost oil exports to US

NEW YORK (Reuters) - OPEC oil producer Angola expects to boost petroleum exports to “strategic partner” the United States, Angolan Foreign Minister Assuncao dos Anjos said on Tuesday.

Crude oil exports from the African nation are set to increase from a current share accounting for as much as 11 percent of oil consumed in the United States, the minister told the Council on Foreign Relations think tank.

“The largest area of cooperation between the United States and Angola is in hydrocarbons, but this is at the business level,” the minister said in the event held at the sidelines of the United Nations General Assembly.

“A great part of the oil consumed in the United States, between 9 and 11 percent, comes from Angola and the trend is to increase that share,” said the minister, whose country rivals Nigeria as sub-Saharan Africa’s largest oil producer.

Angola, current president of the the Organization of the Petroleum Exporting Countries, expects to boost oil output to 2 million barrels per day next year, from 1.93 million bpd currently. The African nation is set to export 1.90 million bpd in October, trade sources say.

As for natural gas, the minister said much of the production of a large liquefied natural gas project being built in Angola will go to the United States. U.S. oil major Chevron Corp is a partner in the project.

“A large portion of the production of this enterprise will be consumed here in the United States,” he said.

Angola’s first LNG plant is on track to start shipping gas in January 2012, the country’s oil minister said this month. The plant, expected to cost up to $10 billion, will produce around 5.2 billion metric tonnes a year of LNG and related products to export to the United States, Europe and Asia.

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