Angola reforms set to survive Sonangol sackings
The new boss of Angola’s state oil firm is seen as another safe pair of hands
Last week's sacking of Sonangol chairman Carlos Saturnino and most of the company's board was ostensibly due to President Jao Lourenço's dissatisfaction with the way the company handled a fuel import crisis. But other factors may be been at play too. The country has been suffering fuel shortages, as it failed to import enough refined products to meet demand. Although Angola is Africa's second largest oil exporter, it can only meet less than a fifth of its own fuel needs from domestic refineries and must import the rest Lourenço blamed a lack of communication between Sonangol and the relevant government departments for the fuel shortage. Meanwhile, Sonangol, which oversees fuel imports, ha
Also in this section
13 September 2024
The Ukraine–Russia gas transit and interconnection agreements are due to expire at the end of this year, but despite some uncertainty, Europe seems well-prepared
12 September 2024
The oil alliance must navigate the good, the bad and the ugly in its showdown with the market at the beginning of December
12 September 2024
The transition to oil evokes revolution and renaissance
11 September 2024
But the young nation may have to go through a fallow period before that project comes online as the Bayu-Undan field nears exhaustion