Chevron and ExxonMobil Paid Approximately US$9 Billion to the Government of Angola Between 2023 and 2024
Friends of Angola (FoA) has published its latest report, “Transparency in Angola’s Oil and Gas Sector: Taxes and Other Payments Made by Chevron and ExxonMobil to the Government of Angola (2023–2024),” providing a comprehensive analysis of payments made by the two largest international oil companies operating in Angola.
The report aims to strengthen transparency, accountability, and good governance in Angola’s oil and gas sector by examining the principal financial flows from Chevron and ExxonMobil to the Angolan government during 2023 and 2024.
According to the report, the two companies collectively paid approximately US$9 billion to the Government of Angola through various fiscal and contractual mechanisms, including taxes, royalties, production entitlements, bonuses, fees, and mandatory corporate social responsibility (CSR) payments.
Production Entitlements Account for More Than 80 Percent of Total Payments
The report finds that production entitlements represented the largest source of government revenue generated by the two companies, accounting for more than 80 percent of all payments made to the Government of Angola.
This finding highlights the central role that oil revenues continue to play in Angola’s economy and underscores the importance of transparent and effective management of the country’s natural resources to ensure that their benefits reach all Angolans.
While taxes, royalties, and other fiscal contributions remain important sources of public revenue, the report demonstrates that the largest share of government income from these companies derives from production-sharing arrangements established under Angola’s petroleum contracts.
Transparency as a Pillar of Good Governance
Friends of Angola emphasizes that the public disclosure of payments made by oil companies is essential for promoting government accountability and strengthening public trust in the management of revenues generated from the country’s natural resources.
In a country where oil remains the primary source of government revenue and export earnings, transparency in the extractive sector is critical to preventing corruption, combating illicit financial flows, and ensuring that resource wealth contributes to sustainable economic and social development.
The organization further argues that greater public access to information on payments, petroleum contracts, beneficial ownership, and the allocation of public revenues would strengthen oversight by the National Assembly, civil society organizations, oversight institutions, the media, and citizens.
Contributing to Public Debate
The report seeks to contribute to informed public debate on the governance of Angola’s natural resources by providing accessible, evidence-based information on payments made by two of the country’s leading oil producers.
By promoting greater transparency in Angola’s oil and gas sector, Friends of Angola aims to encourage public policies that reinforce institutional integrity, good governance, and the responsible management of revenues generated from the country’s natural resources.
The publication comes at a time of growing international attention to fiscal transparency, corporate accountability, and the implementation of international governance standards in the energy and extractive industries.
About Friends of Angola
Friends of Angola (FoA) is an independent nonprofit organization founded in 2014 and headquartered in Washington, D.C., with programs and activities in Angola. Its mission is to promote democracy, human rights, transparency, good governance, and civic participation through research, advocacy, investigative journalism, civic education, and youth empowerment.
FoA works closely with civil society organizations, journalists, policymakers, and international partners to combat corruption, strengthen democratic institutions, and protect fundamental freedoms. The organization also operates Radio Angola, supports investigative journalism and digital security initiatives, advances accountability through international advocacy, and holds Special Consultative Status with the United Nations Economic and Social Council (ECOSOC) and Observer Status with the African Commission on Human and Peoples’ Rights (ACHPR).
For more information and to access the full report, visit:
https://friendsofangola.org/report/transparency-in-angolas-oil-and-gas-sector-taxes-and-other-payments-made-by-chevron-and-exxonmobil-to-the-government-of-angola-2023-2024/