OIL YIELDS MORE THAN 253-BILLION KWANZAS

ANGOLA: OIL/ANGOP/14/6/18 SABANews 1

Chevron is Angola’s largest foreign oil industry employer, with more than 89 percent of the workforce in the country being Angolan (Pic. Chevron)

LUANDA – ANGOLA has earned more than ONE-BILLION-59-MILLIONS-273-THOUSAND US dollars from oil exports in MAY this year.

National news agency, ANGOP says the SADC country managed to sell 49-MILLION-800-THOUSAND barrels of crude on the global market.

It quotes a report from the Ministry of Finance on revenues generated by oil production as saying the oil was fetching an average price of 68 US dollars 90 cents per barrel.

ANGOP says compared to the same period last year, there has been a substantial increase in both oil revenues and exports.

It also says with the country collected some 124-POINT-NINE-BILLION kwanzas from the sale of 47-MILLION barrels of crude at an average price of about 50 US dollars 95 cents per barrel.

The news agency says in APRIL this year, the State earned 233-POINT-SEVEN-BILLION kwanzas after exporting of 46-MILLION barrels, at an average price of 65 US dollars 50 cents per barrel.

The government has also collected taxes on oil income, oil production, and oil transactions from 13 operators in the country.

ANGOLA is said to be the THIRD-largest trading partner of the UNITED STATES in Sub-SAHARAN AFRICA, largely because of its petroleum exports.

Records show AMERICA imports SEVEN percent of its oil from ANGOLA, about THREE times as much as it imported from KUWAIT just prior to the GULF WAR in 1991./Sabanews/cam

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