Press Release / Nov. 22, 2000

Angola’s Oil & Gas Conference Misses the Boat on Corruption

The list of keynote speakers and subjects for discussion at Angola’s second annual “Oil & Gas Investments in Angola” conference reads like a whose who for business as usual. “There are some potentially interesting topics for discussion, such as that of BP-Amoco: ‘Expectations of an International Oil Company in Angola’. This needs to include the issue of corruption and the need for corporate transparency about tax and royalty payments to governments”, said Simon Taylor of Global Witness.

As new oil blocks come on-line, Angola’s oil production will increasingly be derived from these younger fields. This means that in the short to medium term, the country will be entering a phase where the vast bulk of the government’s income from oil will be derived from direct payments from companies. “Given this scenario, it is simply not acceptable for the companies operating in Angola to hide behind suggestions that they are not responsible for a significant proportion of Angola’s income from their direct payments. This conference could provide the perfect opportunity for the companies to finally end their complicity in the wholesale rip-off of Angolan state assets due to their lack of transparency. Can they live up to this challenge?”