The reason for the decline in revenues is the decrease in the cost of a barrel of oil and the production of this product.
According to figures cited by Jornal de Angola, in the period in question, the price per barrel stood at 112.31 dollars per barrel and production at 1.085 million barrels per day, reflecting, in percentage terms, a decrease per month of 9.61 percent in terms of the price of a barrel and 7.18 percent in terms of production.
According to analysts at the consultancy NGP (Ngola Papel), quoted by Jornal de Angola, the performance was overestimated due to the revenues achieved in Block 0, in Cabinda. In July, half of the total pocketed revenues were centralized by this block.
In the following month, the amount collected by this block dropped from 1.65 billion dollars in July to 142 million dollars in August, writes Jornal de Angola.
