Luanda - The final version of the second report of the Extractive Industry Transparency Initiative (EITI), referring to the 2022 fiscal year, constitutes the Angolan Government's commitment to the transparent management of mineral resources, including the oil sector.
According to the secretary of State for Oil and Gas, José Barroso, compliance with the EITI requirements demonstrates Angola's commitment to the best international practices in the management of mineral resources.
Speaking to the press on Thursday, at the end of the 5th Extraordinary Meeting of the National Coordination Committee of this initiative, José Barroso highlighted the fact that the launch of the second report coincides with the first assessment of Angola as an EITI implementing country.
As a result, it was announced that the International Secretariat's validation team will be in person in Luanda, from Nov 25th to 28th of this year, to assess engagement with all interested parties regarding implementation.
“As the result of the assessment of Angola, as an EITI implementing country, is expected to be known by March 2025, I assure you that together we can guarantee that the country's extractive industries are managed in a transparent and responsible manner, for the benefit of all Angolans ”, he assured.
For his part, the AGT (General Tax Administration) administrator, Leonel Manuel, made it known that in the oil sector, the EITI report was tested with the Total Energies model, in which it was possible to determine, in terms of oil taxes, a total of US$860.506.126.
He added that from the point of view of non-oil taxes it was possible to determine a value above Akz 85 billion (US$92.980.650).
In the mining sector, where the Catoca model was used, it was possible to determine a value above Akz 60 billion (US$65.633.400).
“The report has now been presented, although there is still work to be done, but we think that, with the approval of this 2nd report, we are on the right track, because the data is represented in a more aggregated way”, he explained.
The Report on Angola's Extractive Industry constitutes an important milestone for the country, in general, and for its extractive industries, in particular, presenting transparency, detailed information and improved Business Environment.
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