The President of Angola intends in the first half of the year to review the current model of the Angolan oil sector, having determined the creation of an inter-ministerial working group to “analyse and update” the Oil Sector Organisation Readjustment Model approved in May 2016, according to a presidential order.
The working group, coordinated by the Minister of Mineral Resources and Oil, Diamantino Azevedo and comprising Finance Minister Archer Mangueira, Oil Secretary Paulino Jerónimo, and the chairman of the Board of Directors of oil company Sonangol, Carlos Saturnino, has 120 days to complete the work.
The working group is charged with reviewing and proposing the framework of the organisation in charge of oil and gas management, analysing the institutional position of the ministerial department responsible for the sector and redrafting proposals for the establishment of the National Hydrocarbon and Biofuel Agency (ANHB), according to the order cited by Portuguese news agency Lusa.
The group will also be tasked with “analysing and proposing other adaptations that may be necessary to the Oil Sector Organisation Readjustment Model,” which came into force shortly before Isabel dos Santos was nominated by her father and then head of State to lead Sonangol in June 2016. (macauhub)