Oil constitutes 85 % of Angola’s income

Nov 20, 2003 01:00 AM

Angola’s Petroleum Minister Desiderio Costa, stated that oil constitutes 85 % of the country’s exchange incomes and nearly 45 % of Gross Domestic Product.
According to Costa, who was speaking at the opening ceremony of the seventh Widen Consultive meeting of his Ministry, oil is Angola’s main source of revenues.

The gathering aimed to assess the activities at oil refineries, the development reached in Angola in this field, as well as to analyse the level of execution of recommendations and conclusions from the first meeting.
The agenda also comprises the management and development of human resource, National Institute of Oil, projects of new oil refinery, the programme for revitalization and distribution of oil in Angola, oil-related policies and the national participation in the sector.

The three-day council is the first of its kind which takes place in a non oil producer province. The latest one was held in Mbanza Congo, last year.
Besides Angola’s oil firms officials, are also attending the event officials of the country’s several sectors of public life.

Source: AngolaPress
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