Stuck midway in reforming its energy sector by chopping down unnecessary assets and optimizing the national NOC’s role vis-à-vis the government, Angola has endured a lot of strain in the coronavirus period. Straddled with foreign debt, the loss of oil revenues which have been making up roughly third of the government’s income, Angola was compelled to seek IMF assistance on keeping its economy afloat, including a rather risky move of suspending all debt service payments from May 01 until the end of the year. Reassessing Angola’s economic prowess might lead to a relaxation of the Angolan-Chinese axis as Luanda seeks to postpone the payment of its outstanding debt to its main oil-related trading partner in the past couple of years. Angola’s long-term prospects have been for some time already hindered by a seemingly terminal production decline. A mere 3 years Angola was exporting some 1.7mbpd, today the same metric […]