How the Mighty Have Fallen in Angolan Oil

[Kate Turlington + 44]

Not sure if anyone's been keeping up with Angola post Dos Santos era, but the new president is really going after the former ruling family. Not only did he fire Dos Santos' daughter from state oil giant Sonangol in September, but now he's investing some dubious deals she orchestrated. Now they're looking at possible misappropriation of funds and suspect deals to the tune of tens of millions of dollars. 

[Carlsbad + 19]

One of the deals they're looking at is a monthly payment of 10 million euros to a Portuguese company that she was an investor in. Of course, she's defending herself with Tweets, in the new style: Everyone's out to get her, etc etc.. 

[Seleskya + 50]

Wonder what's it's all going to mean for Sonangol's growth, since Angola has been back and forth vying with Nigeria for the top African oil spot. 

[Kate Turlington + 44]

In the meantime, Nigeria's loving the fact that over 250 companies are bidding on its 2018/2019 crude oil contracts ... 

[Kate Turlington + 44]

and ... back to Angola, the new president also just fired dos Santos' son from his position as head of the country's $5-billion sovereign wealth fund.