MAY 1.43% 6.9¢ melbana energy limited

Are we confident of Sonangol's credentials? I see it lost US$4bn...

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    Are we confident of Sonangol's credentials? I see it lost US$4bn last year, not a bad effort for an oil company. Also there have been allegations of corruption: "In June 2016, president José Eduardo dos Santos removed the entire board of Sonangol, and installed Isabel dos Santos as chairwoman of the company, to "ensure transparency and apply global corporate-governance standards".[3] This led to many accusations of corruption and nepotism. However, in November 15, 2017, the new president of Angola João Manuel Gonçalves Lourenço dismissed Isabel dos Santos and named Carlos Saturnino Guerra Sousa e Oliveira as the Sonangol chairman.[4] An internal audit later revealed that after she had been dismissed, dos Santos transferred US$38 million of the company's funds to a suspicious Dubai based company." (From Wiki.)
 
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