23-11-2016 14:36 via uk.news.yahoo.com

Exclusive - Sonangol delays payments as it battles to reform

By Libby George LONDON (Reuters) - Angola's state oil company Sonangol has amassed hundreds of millions of dollars in debts and deferred payments to oil majors and contractors while its new chief, Isabel dos Santos, attempts to reform its operations. Contractors say they have waited months even for small payments from Sonangol, which handles the oil and gas reserves of Africa's second-largest oil exporter. The delays began following the appointment of dos Santos, the daughter President Jose Edua
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