Tax revenue from oil exports in Angola increased 20 percent, in March, to more than 745 million Euros.
According to data from the latest monthly reports from the Angolan Ministry of Finance on revenues from the sale of oil, 47,470,622 barrels of oil were exported at an average price of 51.7 Dollars. These figures show an increase of 133 thousand barrels over the previous month, although with a drop in the average price by more than 1 Dollar.
Thus, total oil sales amounted to 2,293 million Euros in March, close to January's figures, in which Angola exported 52,250,079 barrels of oil, at an average price of 51 Dollars, generating tax revenues of 158.9 billion Kwanzas (892 million Euros), which wasn’t seen since October 2015. In March of 2017, tax revenues tax revenues, relating to 13 oil production concessions, exceeded 132 billion Kwanzas (746.7 million Euros).
It should be remembered that Angola exported each barrel of oil in 2014 for more than 100 Dollars, but in 2016 the value reached a minimum of 30.4 Dollars per barrel.
In March of this year, each barrel of oil sold by Angola was, on average, 7 Dollars more than the value that served as the basis for the elaboration of the State Budget for 2017.
The source of this data is the values of revenues collected from the Petroleum Income Tax (IRP), the Tax on the Transaction of Petroleum (ITP) and the revenues of the concessionaire, related to 12 Angolan oil concessions.