Angola earns $ 9 bn through sale of natural assets

Dec 31, 2004 01:00 AM

Angola earned nearly $ 9 bn (EUR 6.6 bn) in 2004 through the sale of petroleum, diamonds and granite, ministers were quoted as saying.
"Angola earned $ 8 bn through the sale of 246.5 mm barrels of petrol in 2004," Petroleum Minister Desiderio Costa said in an end-of-year message. Angola in 2004 crossed the 1 mm bpd threshold.

Meanwhile, junior Minister of Mines Mankenda Amboise said Angola had exported around 7 mm carats of diamonds worth around $ 800 mm. Amboise said while diamond output had gained 0.04 % against the previous year, revenues fell by 3.1 %. He said granite sales had fetched more than $ 4 mm in 2004.
Angola is sub-Saharan Africa's second largest oil producer after Nigeria, producing more than 1 mm bpd of oil which make up 90 % of the country’s total exports.

Source: Agence France Presse
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