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Angola oil revenues yield AKz 253.1 billion

The export of oil in March yield to the Angolan state about 253.2 billion kwanzas, resulting from the sale of 43.1 million barrels of crude oil.

These figures were obtained with the sale of the barrel at an average price of US $ 62,391. With this figure, there is an increase of 28.7 billion, compared to exports made in February of this year, according to data that reached ANGOP, based on reports published by theMinistry of Finance.

Petroleum tax revenues in February of this year stood at 224.4 billion, kwanzas, with exports of 44.6 million barrels at an average price of US $ 61,662.

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

Angola has been losing ground to Nigeria in terms of oil production and Africa’s largest producer position, according to the Organization of Petroleum Exporting Countries (OPEC) reads the monthly March oil market report.

In February, based on OPEC and its monthly reports, Nigeria extended the distance separating it from Angola by producing an additional 24,900 barrels for a total of 1.806 million barrels per day, against an Angolan production of 1,613 million barrels, a monthly drop of 17,1 thousand barrels.

Source: Angop

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