Africa-Press – Angola. Oil companies operating in Angola exported more than US$17 billion of gross revenue collected in 2021, that is, about two thirds of the US$27.28 billion resulting from the export of US$394.22 million. barrels of oil.
More than US$17 billion were exported through the provision of services and the payment of investments made by multinationals, notably Total Energies, Esso, BP, Chevron and SSi.
Of the total value of gross revenues for 2021 recently announced by the Ministry of Mineral Resources, Oil and Gas, Angola only took one third, around USD 10.3 billion, reverted to taxes paid to the State via the operators’ exports plus the 290 thousand barrels that the country is entitled to.
According to clarifications from the oil and gas specialist, Patrício Quingongo, on the program “Táxi Amarelo” on LAC radio (Luanda Antena Comercial), of the daily average of one million and 120 thousand barrels currently produced, Angola is entitled to 290 thousand barrels, that is, 800,000 barrels remain with the operating companies, within the framework of the Production Sharing Contract (CPP).
“Therefore, the Government’s oil revenues must be evaluated based on the 290,000 barrels of oil per day, which the State is entitled to plus the taxes that companies pay through the export of barrels of oil”, he clarified.
The expert added that, of the 290,000 barrels per day, part goes to refineries, another for debt repayment to China, which reverts to barrels of oil and the remainder goes into revenue for the State.
As for multinationals operating in Angola, 99 percent of their production is carried out through the Production Sharing Contract, which is an association in which the Angolan State forms with companies for the sharing of benefits, costs and production.
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