Sonangol has also had problems paying its local suppliers.
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José Eduardo dos Santos’s stubbornness in handing over Sonangol – the diamond in the national sovereignty crown – to his inexperienced daughter at such a critical time, is having the effect of accelerating the company’s collapse.
His rescue plan during Angola’s economic crisis seems to be designed for his family’s benefit, not the country’s.
New management at the Angolan National Oil Company Sonangol has engineered a situation which now threatens the very survival of the company.
Since June this year, when Angola’s President José Eduardo dos Santos installed his daughter Isabel dos Santos to chair the board, Sonangol has repeatedly failed to honour its promises to pay some US $300 million owed to the US multinational oil giant Chevron.
two equal horizontal bands of red (top) and black with a centered yellow emblem consisting of a 5-pointed star within half a cogwheel crossed by a machete (in the style of a hammer and sickle); red represents liberty; black the African continent; the symbols characterize workers and peasants Seasonal floods affected thousands of people in Angola and Namibia during a rainy season that stretched through April 2011.
Flood waters finally receded in May, but not before an estimated 260,000 residents had been affected.
DT Group is receiving monthly payments of US 0 millions for the sale of refined fuels back to Sonangol, in what amounts to a closed circuit of funds sloshing between the presidential family and their close circle of business friends.
The President’s daughter meanwhile has concentrated on micro-management, hiring and firing lawyers, sponsoring events in London and so on while failing to grapple with the overall management of the business.
By fax:(571) 204-3800(please include a phone number where we may call you) Contact the Office of Inspector General Contact the Employment Verification Office The United States and its partners continue to face a growing number of global threats and challenges.