Oil revenues in East Timor reach record in 2010

21 January 2011

Dili, East Timor, 21 Jan Dec – East Timor’s oil revenues and tax revenues from oil in 2010 were “the highest ever,” according to a statement from the State Secretariat for the Council of Ministers issued Thursday in Dili.

In the statement, the East Timor government said that, “by 17 December, 2010 US$2.172 billion in oil revenues had been charged, which exceeded budget estimates.”

The statement also said that tax revenues from oil, “were also the highest ever, reaching almost US$1 billion, which was a rise of 38 percent against 2009.” (macauhub)