Prospecting the academic grounds on global energies patterns
As Nigeria, the case of Angola is representative of Rentier States, mainly or solely relying on its exports of primary resources. The enormous share of trade as % of GDP reflects the dependency of this state on foreign imports of resources.
As the main African exporter to China […]
“If former colonial powers have been replaced by new foreign actors, the same old pattern of collaboration remains. ” D.Yates consider the case study of Cabinda Gulf Oil Corporation which has been pumping oil in Angola since the days of Portuguese colonial rule, and “provides a striking example of poor corporate governance. ”
Yates explained how Angola did manage to nationalize its petroleum resources and establish a national oil company, SONANGOL, yet remind that Gulf (ChevronTexaco) continues to dominate in Cabinda, and how new offshore reserves have been sold off as concessions to other foreign corporations, creating “foreign-run archipelagos where Sonangol plays a passive role”.