Angola: Oil Revenues With 178 Billion Kwanzas Increase

Luanda — Last June oil export generated 442.4 billion of kwanza (AKZ) to the Angolan State through the export of 43.8 million crude oil barrels, which corresponds to AKZ 178 billion hike in relation to previous month.

Data compiled by ANGOP on Monday based on information made available by the portal of the Finance Ministry show an AKZ 178.5 billion increase in revenues in relation to results achieved in May this year.

In May, the revenues reached 264.3 billion generate by the sale of 40.3 million of crude oil barrels at USD 70, 87.

According to recent data released by the National Petroleum and Gas Agency (ANPG) the country's current output is estimated at 1.400 barrels per day.

A short, medium and long-term strategic plan has already been outlined to overturn the oil output reduction.

Unplanned halt in oil output has cost 10 to 15 percent drop in Angola's daily production of roughly 169, 000 crude oil barrels.

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