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Vol 56 No 25

Published 18th December 2015


Luanda rewards its own

Many of the contracts from the latest onshore bidding round have gone to secretive companies linked to top party and presidency officials

The ten oil exploration blocks which were tendered in Angola's first-ever onshore bidding round were never, in today's weak price environment, going to attract major interest, especially from oil majors, say industry sources in Luanda. Two of the ten blocks on offer even failed to attract any bids at all. But nearly all of the companies that did win are owned or controlled by senior members of the ruling Movimento Popular de Libertação de Angola (MPLA), or family and friends of President José Eduardo Dos Santos and the Office of the Presidency, or are previously unknown.

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