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Article

13 Jan 2004

Author:
Human Rights Watch

Angola: Account for Missing Oil Revenues - Disappearance of $4.2 Billion Undermines Fundamental Rights

More than four billion dollars in state oil revenue disappeared from Angolan government coffers from 1997-2002, roughly equal to the entire sum the government spent on all social programs in the same period, Human Rights Watch said in a report released today...State oil revenues surged after oil companies such as BP, ExxonMobil and Total expanded Angolan operations in the late 1990s...Human Rights Watch called upon the Angolan government to publish all of the “Oil Diagnostic” reports, conduct audits of the state-owned oil company Sonangol, and participate fully in international initiatives to promote transparency.