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Oil exports yield 584.1 billion kwanzas to Angola

The data are contained in the most recent report by the Ministry of Finance on the oil company’s revenue, compiled from tax returns submitted to the General Tax Administration (AGT), including the National Concessionaire – National Agency for Biofuels, Oil and Gas (ANPG).

Of the total revenue recorded, 413.7 billion kwanzas are inflows from the Concessionaire, while the Petroleum Production Tax (IPP) generated 25 billion kwanzas; the Petroleum Income Tax (IRP) amounted to 91.7 billion kwanzas and the Petroleum Transaction Tax (ITP) amounted to 53.5 billion kwanzas in the month.

Block 17, with 11.5 million barrels explored and a price of 113.3 dollars, generated an entry of 193.2 billion, making it the largest source of oil financial revenue.

According to analysts at NGP Consultants (Ngola Papel), this performance was overestimated by the level of tax revenue collected in Block 0A Cabinda, which in July concentrated 50 percent of the total revenue collected, equivalent to 1.65 billion dollars, having reduced to 142 million in August.

Note that Block 0, in Cabinda, is operated by Cabinda Golf Oil, a subsidiary of Chevron with a 39.2 percent stake. The contractor is Sonangol E.P, with a 41 percent stake, Total Energy with 10 percent and Eni Angola with a 9.8 percent share.

Read more in Jornal de Angola

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