Africa-Press – Angola. Oil tax revenue stood at 2.8 billion kwanzas in the first half of this year, two billion kwanzas less than the same period in 2022.
These figures are “far” from the results of the first half of 2022, a period in which oil tax revenue reached 4.2 billion kwanzas, as a result of the export of 209.5 million barrels at an average price of USD 99.4/barrel.
The reduction in oil tax revenue was influenced by the average price and volumes of exporters to the international market, in the period in question, a situation that negatively impacted the State’s accounts.
According to data published by the Special Taxation Directorate (DTE) of the Ministry of Finance, in the first half of this year, 191.83 million barrels of crude were exported at an average price of USD 78.35/barrel.
Of the total amount of oil tax revenue for the semester in question, 1.7 billion is from the National Concessionaire, the National Agency of Petroleum, Gas and Biofuels (ANPG), according to the statements submitted to the General Tax Administration (AGT), based on the value declared by it, after deductions made.
Another part of the oil tax revenue is declared by companies operating in the country, translated into Petroleum Income Tax (IRP), Petroleum Production Tax (PPP) and Petroleum Transaction Tax (ITP).
Of the operated oil blocks, Block 17, operated by TotalEnergies, exported 61.82 million barrels, followed by Block 15 with 22.60 million barrels, Block 0 with 21.8 million barrels and Block 15/06 with 17.60 million barrels exported
Angola’s 2023 General State Budget provides for a reference price of US$75 per barrel of oil, an average oil production of 1.18 million barrels.
On Monday, July 24th, the price of Brent Oil futures (October 2023) is trading at USD 81.33.
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