ASSESSMENTS

Angola's National Oil Company Continues to Be the Government's Backbone

Sep 2, 2014 | 09:00 GMT

Angola's National Oil Company Continues To Be The Government's Backbone
Angolan President Jose Eduardo dos Santos holds a press conference on May 9.

(ESTELLE MAUSSION/AFP/Getty Images)

Summary

Before Angola's independence in 1975, Portugal imposed a contentious and hastily thrown together power-sharing deal among Angola's three main ethnic groups: the Bakongo, Mbundu and Ovimbundu. This pact unraveled quickly after independence as Angola descended into a three-way civil war. Sonangol, Angola's state-owned oil company, emerged from this conflict, which ended with a victory for the ruling Mbundu-led Popular Movement for the Liberation of Angola. The party, which used Sonangol's revenues to finance its military during the civil war, now considers the company one of its pillars of strength.

Sonangol was empowered to finance an army during the civil war and is now crucial to the government's control....

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