Angola sees oil output rising 10 pct this year to 1.84 mln bpd

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JOHANNESBURG, March 20 (Reuters) - Angola expects oil output to average 1.84 million barrels per day (bpd) this year, up 10 percent from 1.67 million bpd in 2014, according a revised 2015 budget passed by parliament on Thursday, the state news agency said.

Angola's parliament voted heavily in favour of passing a revised 5.4 trillion kwanza ($51 billion) 2015 budget, cutting spending by 1.8 trillion kwanza from its original plans due to a halving of oil prices since June last year.

The revised budget figures are based on an oil price of $40 per barrel rather than the $81 previously forecast and predicts a budget deficit of 7 percent of GDP.

Oil accounts for around half of Angola's GDP, 80 percent of tax revenues and 90 percent of export earnings.

Angola's state-oil company Sonangol lay out ambitious plans to increase oil production last month after what it called a "very difficult" 2014 as cost cuts soared, prices slumped and technical problems hit output.

The OPEC-member has missed its oil production target of 2 million bpd for several years due to project delays and disappointing levels of investment as oil majors scaled back exploration projects due to the global economic downturn.

Chevron (Swiss: CVX.SW - news) , Exxon Mobil, Total (Swiss: FP.SW - news) , BP and China's Sinopec (HKSE: 0386-OL.HK - news) are all major producers in Africa's second largest oil exporter. (Reporting by Joe Brock; Editing by James Macharia)