Angola’s state oil firm saves $1.7bn on cuts 

by | October 7, 2017 11:09 am

Angola’s state-owned oil company Sonangol said on Friday it had saved $1.7 billion thanks to spending cuts since 2014 in response to lower crude prices. Oil companies across the world have made steep cuts to their annual capital expenditure over the last three years to cope with a slump in oil prices. Sonangol said in a statement production costs…

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