{"id":48239,"date":"2023-10-29T06:48:56","date_gmt":"2023-10-29T06:48:56","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/export-of-96-37-million-barrels-of-oil-is-the-economic-highlight-of-the-week"},"modified":"2023-10-29T06:52:32","modified_gmt":"2023-10-29T06:52:32","slug":"export-of-96-37-million-barrels-of-oil-is-the-economic-highlight-of-the-week","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/export-of-96-37-million-barrels-of-oil-is-the-economic-highlight-of-the-week","title":{"rendered":"Export of 96.37 million barrels of oil is the economic highlight of the week"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>The news that Angola exported, in the third quarter of this year, around 96.37 million barrels of crude oil, valued at approximately 8.26 billion US dollars, was the highlight of the economic week, which Saturday ends.<\/b><\/p>\n

Data provided by the Secretary of State for Oil and Gas, Jose\u0301 Barroso, indicate that, similar to the situation observed in previous quarters, China was the main destination for Angolan crude oil exports with 62.81%.<\/p>\n

Jose\u0301 Barroso reported that other destinations are Spain with 9.12%, France and the Netherlands with 5.42% and 4.87%, respectively.<\/p>\n

Throughout the week, it was also highlighted that the import of around 711 thousand metric tons of liquid fuels (71.36%) cost around 657.81 million dollars (one USD is equivalent to kz 831.548), during the third quarter this year, which represents an increase of close to USD 108 million, compared to the previous period.<\/p>\n

In the same quarter of the previous year, the import of 704 thousand and 718 metric tons of petroleum derivatives (68% of the total volume of refined products, fixed at 1,036,351 tons) was valued at around 549 million dollars.<\/p>\n

Another highlight was the approach to the Zambian ambassador to Angola, Lawrence Chalungumana, who announced that negotiations were underway between the two neighboring countries for Zambian participation in the Lobito Refinery Project.<\/p>\n

According to the diplomat, who was speaking on the occasion of the 59th anniversary of his country’s Independence, Zambia expressed its interest in investing in the project, with a capacity of 200 thousand barrels of oil per day.<\/p>\n

Still in the field of oil, he said, the two countries are also involved in negotiations on an oil pipeline that will connect the two Southern African states.<\/p>\n

Lawrence Chalungumana indicated that bilateral cooperation between Angola and Zambia is \u201cincreasingly stronger\u201d in several areas, after four official visits made to Angola by President Hakainde Hichilema this year.<\/p>\n

This week, it was also worth highlighting that six hundred and 30 private investment projects, valued at more than 9.7 billion US dollars, were submitted in five years to the Angolan Private Investment and Export Promotion Agency (AIPEX), to leverage the country’s economy.<\/p>\n

The information was provided in Menongue, in Cuando Cubango, by the PCA of AIPEX, Lello Joa\u0303o Francisco, adding that they are aimed at the tourism, industry, energy and water and health sectors.<\/p>\n

The official, who was speaking after the presentation seminar for the Single Investment Window (JUI), assured that 191 projects have already been implemented, valued at 1.6 billion US dollars, having allowed the creation of 12 thousand direct jobs for Angolan citizens.<\/p>\n

Also highlighted in the week’s economic news was the Sustainable Investment Facilitation Agreement between Angola and the European Union (EU), approved by the Council of Ministers, in its 9th Ordinary Session, guided by the President of the Republic, Joa\u0303o Lourenc\u0327o.<\/p>\n

According to the Minister of Economy and Planning, Ma\u0301rio Caetano Joa\u0303o, Angola is the first country with which the European Union decided to sign this agreement, which aims to facilitate the attraction, expansion and retention of foreign direct investment between the parties, for the purposes of economic diversification and sustainable development.<\/p>\n

The agreement also aims to prepare the Angolan market for foreign direct investment, improving the business environment, with technical assistance from the EU, and ensuring that all investments in this agreement guarantee environmental sustainability.<\/p>\n

Still on the council of ministers, a bill was considered, which will be submitted to the National Assembly for consideration, to grant authorization to the Holder of the Executive Power to legislate on the Customs Tariff of Import and Export Duties.<\/p>\n

On the same occasion, the Draft Presidential Legislative Decree approving the Customs Tariff of Import and Export Duties was considered, with a view to updating this instrument, bringing it into line with the seventh revision of the Harmonized System Nomenclature.<\/p>\n

On the subject, the Minister of Finance, Vera Daves, clarified that the proposal to change the Customs Tariff arises from a commitment made by Angola, to align the respective statistical tariff nomenclatures with the harmonized system, as well as the need to align the tariff with the current macroeconomic context of the country.<\/p>\n

Throughout the week, it was also highlighted that the Executive wants to count on the assistance of the Food and Agriculture Organization of the United Nations (FAO) to enhance the production of agricultural statistical data in the country.<\/p>\n

According to the Secretary of State for Economy, Ivan dos Santos, there is a need to improve the production of statistical data to attract foreign investors.<\/p>\n

Ivan dos Santos made it known that the approach to producing agricultural statistical data took place at the Investment Forum 2023 (Investment Forum 2023 – designation in English) held from 17 to 20 October 2023, in the Italian city of Rome.<\/p>\n

It was also highlighted that Banco Millennium Atla\u0302ntico launched the first \u201cAtla\u0302ntico\u201d multi-cash card machine, which allows customers to gain autonomy in obtaining cards, 24 hours a day.<\/p>\n

Without face-to-face service at the aforementioned bank branches, the customer, using the tools displayed on the machines, requests a card and within four minutes the request is fulfilled.<\/p>\n

With the launch of the machine, the bank reinforces its commitment to the customer, as the main beneficiary of all its actions, creating solutions that facilitate their day-to-day life and that improve their experience in using the banking services that place their disposition.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. The news that Angola exported, in the third quarter of this year, around 96.37 million barrels of crude oil, valued at approximately 8.26 billion US dollars, was the highlight of the economic week, which Saturday ends. 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