Editing Economy of Angola (section)

===Petroleum===
Angola produces and exports more petroleum than any other nation in [[sub-Saharan Africa]], surpassing [[Nigeria]] first in the [[2000s in Angola|2000s]], then in 2022.<ref>{{Cite web |title=OPEC : Monthly Oil Market Report |url=https://www.opec.org/opec_web/en/publications/338.htm |access-date=2022-08-20 |website=www.opec.org}}</ref> In January 2007 Angola became a member of [[OPEC]], before leaving in December 2023, as they wanted to expand their oil production. Under the Lourenço since 2017, the country has made efforts to incentive investments and reverse declining production, resulting in fresh investments made by international oil companies.
[[File:Petrol price in Angola.jpg|thumb|left|Petrol price in 2019]]
[[Chevron Corporation]], [[TotalEnergies]]., [[ExxonMobil]], [[Eni]], and [[BP]] all operate in the country and represent a vast majority of daily production.<ref name="oilhistory">Tvedten, Inge. ''Angola: Struggle for Peace and Reconstruction'', 1997. Page 82.</ref>

Block 17, operated by TotalEnergies, is Angola's biggest producing asset<ref>{{Cite web |title=Exploração e Receita Petrolífera corrente |url=https://www.minfin.gov.ao/PortalMinfin/#!/economia-nacional/petroleo |access-date=2022-08-20 |website=www.minfin.gov.ao}}</ref> and is known as the Golden Block. The French major is currently executing several subsea tieback projects there, including CLOV 3 and Begonia, whose final investment decisions (FIDs) were taken in 2022.<ref>{{Cite web |title=StackPath |url=https://www.offshore-mag.com/regional-reports/africa/article/14278028/anpg-totalenergies-invest-850-million-in-phase-3-of-angolan-block-17 |access-date=2022-08-20 |website=www.offshore-mag.com|date=June 13, 2022 }}</ref><ref>{{Cite web |title=Angola : TotalEnergies déploie sa stratégie multi-énergies en lançant trois projets dans le pétrole, le gaz et l'électricité solaire |url=https://totalenergies.com/fr/medias/actualite/communiques-presse/angola-totalenergies-deploie-sa-strategie-multi-energies |access-date=2022-08-20 |website=TotalEnergies.com |date=July 28, 2022 |language=fr}}</ref>

The United Nations has criticized the Angolan government for using torture, rape, [[summary execution]]s, arbitrary detention, and disappearances, actions which Angolan government has justified on the need to maintain oil output.<ref name="hroil">Omeje, Kenneth C. ''High Stakes And Stakeholders: Oil Conflict And Security in Nigeria'', 2006. Page 157.</ref>

Angola is the third-largest trading partner of the United States in Sub-Saharan Africa, largely because of its petroleum exports.<ref name="thirdlargest">United States Congress. ''Foreign Operations, Export Financing, and Related Programs Appropriations for 1998: Hearings'', 1997. Page 269.</ref> The U.S. imports 7% of its oil from Angola, about three times as much as it imported from [[Kuwait]] just prior to the [[Gulf War]] in 1991. The U.S. Government has invested US$4&nbsp;billion in Angola's petroleum sector.<ref name="kuwait">Vines, Alex. ''Angola Unravels: The Rise and Fall of the Lusaka Peace Process'', 1999. Human Rights Watch. Page 189.</ref>

Oil makes up over 90% of Angola's exports.<ref>{{cite web
|url=http://www.angola.org/index.php?page=economy
|title=Economy
|work=Embassy of Angola, Washington D.C.
|access-date=July 20, 2016
|archive-date=March 8, 2016
|archive-url=https://web.archive.org/web/20160308011152/http://www.angola.org/index.php?page=economy
|url-status=dead
}}</ref>