Angop - Agência de Notícias Angola Press

Oil yields more than 253 billion kwanzas

Wed, 13 Jun 2018 18:52 - Economy

Luanda - In May this year, oil exports totaled 253.3 billion Kwanzas, with the sale of 49.8 million barrels of crude oil.

  • Increase of oil price enables collecting more fiscal revenues

According to the Ministry of Finance's report on revenues generated by oil production to which Angop had access, the above amounts were sold at an average price of US $ 68,906.

Compared to the same period last year (May / 2017), there was a substantial increase in both oil revenues and exports, with the collection of 124.9 billion Kwanzas, with the sale of 47 million barrels of crude at an average price of USD 50,949.

In April of this year (2018), 233.7 billion kwanzas were collected, with the export of 46 million barrels, at an average price of 65.50 dollars.

Taxes on oil income (IRP), oil production (IPP) and oil transactions (ITP) were charged to the collection of 13 operators.