Angola Debt To Oil Field Operators Swells To $1 Billion ...Middle East

OILPRICE - Economy
Angola Debt To Oil Field Operators Swells To $1 Billion
source : OILPRICE ( Middle East ) () 16
Angola owes foreign oil field operators some $1 billion, Reuters has reported, citing unnamed sources, adding this level of debt had forced the country to put up stakes for sale in several offshore oil and gas blocks. Sonangol announced the tender for the stakes in mid-June and many saw it as a litmus test for the oil industry, which has become a lot more cautious with its investments amid growing government and shareholder pressure to become more environmentally responsible. "Sonangol has been unable to meet its financial requirements in some…

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