Ver Angola

Energy

Angola earned 572.9 billion kwanzas from oil exports in June

The state collected 572,949,521,082 kwanzas in tax revenues from oil exports in June, according to information from the Ministry of Finance.

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In June, Angola exported 33,401,079 barrels of oil (a drop of 1.66 million barrels compared to May), at an average price that rose in the space of a month from US$62.62 to US$69.48 per barrel.

Overall oil sales in June thus amounted to 2,320 million dollars, which in turn represented tax revenues for the Angolan state amounting to 572,949,521,082 kwanzas.

At the origin of these data are figures on the revenue collected from the Tax on Oil Income (IRP), Tax on Oil Production (IPP), Tax on Oil Transactions (ITP) and revenues from the national concessionaire.

The data in these Ministry of Finance reports are derived from tax returns submitted to the National Tax Directorate by oil companies, including Angola's national concessionaire, state-owned Sonangol.

Since the beginning of the year, Angola has exported 210,159,845 barrels of oil at an average price of $59.41.

These exports resulted in total tax revenues since the beginning of the year of more than 2.44 billion kwanzas.

Angola's General State Budget for 2021 forecast a reference price of $39 per barrel of oil for this year.

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