12 °c
London
Tuesday, April 20, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Angola approves tax relief for marginal oil deposits

FurtherAfrica by FurtherAfrica
August 2, 2019
in Africa, Angola, Commodities, Oil, Tax
Reading Time: 1 min read
0
Angola VAT to enter into force in October
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The approval of the statement of marginal discovery of the Pala, Ástrea and Juno deposits in Angola’s Block 31, through the publication of Executive Decree 157/19 in the Diário da República national bulletin, opens up new investment opportunities, according to the National Oil and Gas Agency (ANGP).

The ANPG also said in a statement issued on Monday in Luanda that the Executive Decree also approves tax benefits to companies that invest in those deposits.

The Executive Decree follows Decree-Law 6/18 on the development of marginal oil fields, which approved a principle of tolerance and contractual flexibility for the development of marginal resources, making use of discovered marginal resources and their conversion into reserves and actual production.

The ultimate goal of this Decree Law is to promote the growth of Angola’s oil industry, as well as to secure additional tax revenue for the state.

Angola, which is Africa’s second largest oil producer after Nigeria, at one point produced 1.8 million barrels of oil per day, but due to a lack of investment in the last 10 years there has been a decline in production, which now stands at 1,4 million barres per day.

Source: Macauhub

Related

Tags: AngolaAngola National Oil and Gas AgencyANGPÁstreaBlock 31crudeJunooilPalaTaxtax reliefанголаأنغولاアンゴラ安哥拉
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Mozambique implements IMF’s enhanced general data dissemination system

Next Post

Bank of Angola provides US$500M for auctions in August

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Economy

Angola: Fitch estimates growth of 1.7% this year

by FurtherAfrica
April 20, 2021
Ethiopia’s Assela wind farm project enters construction
Renewables

Eastern and Southern Africa’s vast renewables potential offers route to sustainable growth

by Staff
April 20, 2021
Coronavirus

Ethiopian Airlines delivers COVID-19 vaccine to Brazil; over 20 million doses delivered worldwide

by Staff
April 20, 2021
Mozambique

Mozambique: Metical appreciated 35% this year, but earnings expected to reverse – Standard Bank

by FurtherAfrica
April 20, 2021
Wilderness Safaris opens the new DumaTau camp in Botswana
Tourism

Wilderness Safaris opens the new DumaTau camp in Botswana

by BOTSWANA UNPLUGGED
April 20, 2021
Next Post
Foreign investment flows to Africa dip by 21 per cent – report

Bank of Angola provides US$500M for auctions in August

Zimbabwe gives mines, farmers 6 months to clear electricity bills

SADC to create energy regulator in southern Africa

Angola: Cabinda’s Caio Port investment deal signed

PR: EAIF arranges debt for €305M Gabon Special Economic Zone

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?