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Wed, 26 Dec 2018 19:17 - Updated Wed, 26 Dec 2018 19:17

Oil with AKz 35 billion increase

Luanda - The tax revenues from oil exports last year reached 346.3 billion Kwanzas with the sale of 40.1 million barrels of oil, ANGOP learned.

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Ministry of Finance (File)

Photo: Clemente Santos

According to data compared from last October compiled by Angop, it registered an increase of 35.4 billion, since during that period revenues reached 310.9 billion kwanzas.

In last October, 44.3 million barrels of oil were sold at an average price of 78.49 dollars.

According to the Ministry of Finance report on ordinary revenues related to oil exports, in November oil was sold at an average price of $ 79.39.

The contribution to oil fiscal revenues are oil tax revenue (IRP), oil production (IPP) and oil transaction taxes (ITP), charged to 14 operators.

Up to the first half of this year 2018, oil revenues amounted to 1.4 billion kwanzas, with the sale of 233.8 million barrels.

The General State Budget (OGE) 2018 was prepared based on the reference price of USD 50 a barrel of oil.

Angola is the second largest producer of crude oil in sub-Saharan Africa, with 1.5 million barrels / day, behind Nigeria, with 1.7 million. However, it produces only 20 percent of the oil products, taken over by the Luanda Refinery.

Tags Finances  

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