A Review of the Nigerian Energy Industry

Oil price considered volatile – Angolan Minister

13 December 2014, Luanda – The Oil Minister, Botelho de Vasconcelos, said on Thursday to the press that the oil price at the international market is experiencing a moment of volatility and it has an immediate incidence in the economies.

According to the minister, who was speaking after the global final approval of the State General Budget for the 2015 economic year, at this time the oil price is dropping to about USD 62 per a barrel.

Oil price fall“We need to have some tranquility, provided that the approved budget is for the 2015 economic exercise, and till then we have to be very calm”, said minister Botelho de Vasconcelos.

According to him, Angola is an OPEC member country, with internal bodies that permanently monitor the variables in the market, the uncertainty and other phenomena.

He said that there is a superior guideline that was taken so as to overcome the situation that the international market is experiencing at this time.

“The State General Budget is estimated at 81 by a Barrel, what we can do is just waiting”, reinforced the minister.

The General Budget of the Angolan state was approved by 162 votes in favour and 30 against.


– Angola Press

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