Page 14 - AfrOil Week 36

AfrOil PERFORMANCE AfrOil

Equity in the Lixus project is currently divided (ONHYM), which has 25%.
between Chariot, which owns a 75% stake, and The former company has said it hopes to
Morocco’s state oil and gas company Office team up with a partner to develop the licence
National des Hydrocarbures et des Mines area. ™

Angola reports oil revenues up in July

ANGOLA OFFICIAL data from Angola’s government necessary, given that Brent prices sank from $66
show that the country’s revenues from oil sales per barrel at the beginning of January to about
rose by more than 3.5% in the month of July. $25 per barrel by the end of March, and it pre-
According to the state press agency ANGOP, vented the Angolan government from failing to
figures from the Special Taxation Directorate meet its fiscal targets, it added.
(DTE) of the country’s General Tax Adminis- The agency also said DTE data showed that
tration (AGT) indicate that Angola collected Angola had lost about $800,000 per day in
approximately AKZ208.4bn ($335.1mn) worth receipts and taxes from oil sales in the first half
of oil revenues in July. This marked a rise of of 2020. These losses were largely the result of
around 3.58% on the June figure of AKZ201.2bn the steep decline in oil prices and of the fall in
($323.5mn). energy demand that accompanied the corona-
The increase in revenue occurred despite a virus (COVID-19) pandemic, it said. ™
month-on-month drop in the volume of oil sold,
ANGOP noted. It said Angola had sold some
37.7mn barrels of crude oil at an average price
of $39.24 per barrel in July. By contrast, it sold
38.8mn barrels at an average price of $24.36 in
June.
In July, more than 40% of all oil revenues went
to Angola’s National Agency for Petroleum, Gas
and Biofuels (ANPG), which acts as concession-
aire of the country’s oil and gas fields. Official
figures show that ANPG collected AKZ85.7bn
in oil revenues in that month. ANGOP noted.
It did not provide any comparative figures for
June.
However, it did report that the country had
greatly benefited from the government’s review
of its budget plans for 2020. It pointed specif-
ically to the decision to base this year’s budget
on the assumption that Brent crude prices
would average $33 per barrel, rather than the
original figure of $55 per barrel. This move was Angola lost $800,000 per day in levies on oil sales in H1-2020 (Photo: KBR)

PROJECTS & COMPANIES
BUA awards tech contract to Axens

for 200,000 bpd refining complex

NIGERIA LAGOS-BASED conglomerate BUA Group has catalysts and adsorbents, as well as training and
awarded a contract to France’s Axens Group for technical services.
a range of technologies for a 200,000 barrel per It did not say how much the contract was
day (bpd) refining and petrochemicals complex worth, although the technologies it is provid-
it plans to build in Akwa Ibom State. ing include various solutions for residue fluid
Axens will license out its various proprietary catalytic cracking (RFCC) and its proprietary
processing technologies while also providing Prime-G+ process for catalytically cracked gas-
basic engineering, proprietary equipment, oline selective desulphurisation.

P14 www. NEWSBASE .com Week 36 09•September•2020