Angola's state oil firm says debt soars, expects "very difficult year"

Angola's state oil firm Sonangol said on Thursday the debt it owes to foreign oil companies has risen sharply due to lower oil prices and it expects this year to be "very difficult" as crude prices remain low. Sonangol's net debt soared 41 percent year-on-year in 2015 to 1.24 trillion kwanza ($7.8 billion) and revenues plummeted 54 percent due to suppressed crude prices, the company said in its annual results. Much of Sonangol's debt is outstanding investment and operational costs owed to foreig