Sonangol

After spending cuts Angola’s state owned oil company saves $US1.7bn. On Friday, Angola’s state owned oil company ( sonangol) said $1.7-billion has been saved and thanks to spending cuts since 2014 due to lower crude oil prices. Due to the slump in oil prices, over the last three years oil companies across the world have made huge cuts to their annual capital expenditure. According to a statement released by Sonangol company, production costs per barrel had…