Cabinda is the oil well of Angola. Some of the largest offshore oil fields in the world are situated adjacent to the coast of Cabinda and the area also has tremendous untapped onshore potential.
Over 50% of all oil produced daily in Angola is produced in Cabinda, making the area the oil well of Angola. The national economy is highly dependent on the oil industry – over the last five years, crude oil and oil products have accounted for approximately 96% of Angola’s total exports, 56% of fiscal revenues, and 34% of Angola’s total real GDP. Without Cabinda, the Angolan economy will crumble.
While Cabinda effectively funds Angola, the region receives little if any benefits. Around 55% of the total Cabinda oil revenue is allocated to Angola’s state treasury and roughly 30% is destined for the Angolan Ministry of Mineral Resources and Petroleum. Only 10% and 5% are allocated to the Cabinda provincial government and the area in which oil extraction is carried out respectively.
The Angolan government’s brazen exploitation of Cabinda is also evident from the fact that it provides little if any funding to the province through national budget allocations. On average, Cabinda has been receiving between 0.6% and 1.4% of the total budget.
The government is not the only oppressor of the Cabinda people. Angolan authorities have enabled international oil companies to exploit the region with little regard for the environment and the local population. Making billions of Cabindan oil, these international companies have made miniscule if any contributions to local development through corporate social responsibility efforts.
Annual Angolan oil exports and related tax revenue, 2017 – 2021
| Year | Exported Output (Barrels of Oil) | Tax Revenue |
|---|---|---|
| 2017 | 637,072,115 | 2 billion kwanzas |
| 2018 | 537,355,555 | 3.3 billion kwanzas |
| 2019 | 493,742,070 | 4 billion kwanzas |
| 2020 | 723,325,157 | 5.9 billion kwanzas |
| 2021 | 412,963,905 | 6 billion kwanzas |
| Total | 2,775,458,802 | 2.1 trillion kwanzas |
National budget allocations to Cabinda, 2017 – 2022
| Year | Amount | Percent of the National Budget |
|---|---|---|
| 2017 | 99.6 billion kwanzas | 1.35% |
| 2018 | 66.6 billion kwanzas | 0.69% |
| 2019 | 61 billion kwanzas | 0.69% |
| 2020 | 128.6 billion kwanzas | 0.96% |
| 2021 | 94.1 billion kwanzas | 0.64% |
| 2022 | 239.6 billion kwanzas | 1.28% |
Annual Cabinda oil exports and tax and royalty payments, 2017 – 2021
| Year | Oil Company (Operator) | Oil Field | Exported Output | Tax & Royalty Payments |
|---|---|---|---|---|
| 2017 | CABGOC | Blocks 0 and 14 – Offshore | 109.9 million barrels | 226.8 billion kwanzas |
| – | Pluspetrol | Cabinda South – Onshore | 404,500 barrels | 434 million kwanzas |
| 2018 | CABGOC | Blocks 0 and 14 – Offshore | 113.3 million barrels | 587.3 billion kwanzas |
| – | Pluspetrol | Cabinda South – Onshore | 415,700 barrels | 868.6 million kwanzas |
| 2019 | CABGOC | Blocks 0 and 14 – Offshore | 100.2 million barrels | 684.9 billion kwanzas |
| – | Pluspetrol | Cabinda South – Onshore | 195,700 barrels | 300.3 million kwanzas |
| 2020 | CABGOC | Blocks 0 and 14 – Offshore | 135.9 million barrels | 967.9 billion kwanzas |
| – | Pluspetrol | Cabinda South – Onshore | 296,300 barrels | 76.5 billion kwanzas |
| 2021 | CABGOC | Blocks 0 and 14 – Offshore | 79.6 million barrels | 1.1 trillion kwanzas |
| – | Pluspetrol | Cabinda South – Onshore | 234,000 barrels | 223.2 billion kwanzas |