Angola: BP invests $ 30 billion in domestic market

This was said on Thursday in Luanda by the deputy director-general, Hélder Silva, during the official launch ceremony of the company’s sustainability report.

He pointed out that during this period the company paid to the Angolan state about 18 billion dollars in taxes.

The official said that BP has a daily production of 300.000 barrels, contributing with the production of about 1.7 million barrels of oil/day, which represents about 18 to 19 percent of the global production of the national oil.

BP-Angola contributes to about 19 percent of the world’s total oil company production and at this time it is number one in the contribution of net revenues to the BP group.

As a result of the drop in the price of oil, the company reduced by 20 to 25 percent of the workforce, from Angolans, more and contractors.

On the other hand, it is estimated that the company’s net production will be around 207.000 this year. Last year’s production amounted to about 223.000 barrels of oil.

For BP to develop new services at the current price per barrel of oil, it will be necessary to negotiate within the commercial terms, reduce development costs and innovate the technologies.

THIS ARTICLE IS A TRANSLATION FROM: http://www.angop.ao/angola/en_us/noticias/economia/2017/7/31/Angola-invests-billion-domestic-market,6753f6d0-b274-4c9f-a3b0-1668552664b4.html




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