More cash: in 2010 for Angola
Angola sees boost in oil money
Angola's oil revenues from taxes and fees charged to oil companies operating in the African nation are expected to rise to $16.6 billion in 2010 from $15.7 billion this year, according to the country's draft budget plan.
Angola, which rivals Nigeria as Africa's biggest oil producer, has calculated the oil revenues based on an average oil price of $58 dollars per barrel for 2010.
The government had initially forecast Angola's 2009 oil revenues based on an average oil price of $37 per barrel but now expects oil prices to average $55 per barrel this year, reported Reuters.
It expects to export 1.9 million barrels of oil per day in 2010, up from around 1.8 million barrels per day this year.
Taxes and oil concession fees charged to oil companies in Angola account for 41% of the country's projected $40.2 billion worth of oil exports.
The 2010 budget is expected to be approved by parliament in coming weeks.