The debt of Empresa Nacional de Hidrocarbonetos (ENH), the state's business arm in the extractive sector, exceeded 181.7 billion meticais (2.5 billion euros) in 2021, according to the company's accounts, consulted today by Lusa.

In the previous financial year 2020, ENH's debt was just over 167 billion meticais (2.3 billion euros), which is below the level reached the following year, the company's report indicates.

The company's net profit exceeded three billion meticais (42.6 million euros) in 2021, which represents an increase on the previous year, when this indicator exceeded 982 million meticais (13.9 million euros).

On the other hand, ENH's assets were just over 227 billion meticais (3.2 billion euros) in 2021 compared to 216 billion meticais (just over three billion euros) in 2020.

Liabilities rose from around 197 billion meticais (2.8 billion euros) to almost 208 billion meticais (2.9 billion euros) between 2020 and 2021.

As the state's business arm in the extractive sector, ENH holds stakes in numerous projects in the sector, including oil, but has systematically resorted to debt in order to be able to enter with capital in many ventures, especially those that are still in the investment and development phase. (Lusa)