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Human Rights Watch report: Angola must account for $4.2 billion missing oil revenues & audit state-owned oil company Sonangol

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Article
13 January 2004

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

Author: Human Rights Watch

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.

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Article
1 January 2004

full report: "Some Transparency, No Accountability: The Use of Oil Revenue in Angola and Its Impact on Human Rights"

Author: Human Rights Watch

[report includes "Recommendations to oil companies operating in Angola"]

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