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Where does Portugal get its crude oil? Import sources 2024

In 2024, Portugal imported $6.3 billion of crude oil (10.4 million tonnes), 0.5% of the world total. Its main sources were Brazil (41%), Algeria (18%) and the United States (11%). Portugal was the world’s 24th-largest importer of crude oil.

Summary

Value
$6.3billion
Tonnes
10.4million tonnes
Share of world total
0.5%
World rank
24th
Routes from the main sources. Width: value; color: estimated transport mode.SeaAirLand

Sources

The 13 main sources in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Brazil2.6Tonnes: 4,466,051USD per tonne: $58341.1%Sea
Algeria1.1Tonnes: 1,787,360USD per tonne: $62717.7%Sea
United States0.71Tonnes: 1,152,400USD per tonne: $61411.2%Sea
Azerbaijan0.71Tonnes: 1,042,103USD per tonne: $67911.2%Sea
Nigeria0.56Tonnes: 893,927USD per tonne: $6228.8%Sea
Norway0.36Tonnes: 533,702USD per tonne: $6805.7%Sea
Ghana0.15Tonnes: 260,619USD per tonne: $5812.4%Sea
Angola0.06Tonnes: 126,260USD per tonne: $5071%Sea
Libya0.06Tonnes: 94,708USD per tonne: $6701%Sea
Spain< 0.01Tonnes: 9,453USD per tonne: $1570.02%Land
Italy< 0.01Tonnes: 5USD per tonne: $16,6830%Sea
Namibia< 0.01Tonnes: 2USD per tonne: $6,0670%Sea
Netherlands re-exports< 0.01Tonnes: 0USD per tonne: $6680%Sea

Trend

Who it buys from

Brazil has been its main source since 2020

Value in USD billions. The five largest sources in 2024.

  • Brazil 2.6
  • Algeria 1.1
  • United States 0.71
  • Azerbaijan 0.71
  • Nigeria 0.56

Source: CEPII BACI

Show the numbers
Partner19952024
Brazil02.6
Algeria0.041.1
United States00.71
Azerbaijan00.71
Nigeria0.430.56

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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