Mauritania: Oil revenue drops to US$1.3 million in July 2014

Nouakchott, Mauritania (PANA) – Oil production from Mauritania's offshore field of Chinguetti brought in US$ 1.3 million to the public treasury in July 2014, official sources told PANA Wenesday.

The receipts, however, sharply dropped compared to US$ 12 million revenue recorded in June. Chinguetti is presently the only operating oil field in Mauritania.

According to the same sources, the account of the national oil revenue fund (FNRH) is credited with more than US$ 55 million.

The fund, managed by the central bank of Mauritania (BCM), keeps all revenue from the oil sector activities -- exploration, development and exploitation.

-0- PANA SAS/JSG/MSA/AR 20Aug2014