7. Angola
Production (1,000 b/d): 1,767.1
Proven reserves (millions of barrels): 9,524
Years of production left at current level: 14 years
2015 import of crude oil (1,000 b/d): –
2015 import of petroleum products (1,000 b/d): 134.5
Angola’s economy is heavily dependent on oil production. In 2004, 80% of the government’s budget came from oil production taxes. In the same year, the oil industry was responsible for 45% of country’s GDP. While Angola’s oil reserves are plentiful, they aren’t infinite, and some hard steps will be needed to reduce country’s dependence on the oil industry.
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