Angola’s President, João Lourenço has dismissed the head of state oil firm, Sonangol. Carlos Saturnino will be replaced by Sebastiao Gaspar Martins according to a statement from the presidency.
President Lourenço had promised a quick end to the fuel shortage prior to Saturnino’s dismissal. The fuel scarcity had extended from the capital Luanda to other cities.
Angola produces around 1.5 million barrels of oil per day but imports about 80 percent of its demand for refined products such as petrol and diesel.
Sonangol, the state oil firm, blames the shortage on difficulties in accessing hard currency as well as unpaid debts owed to the energy company by industrial clients in the country.
The new chairman, Gaspar Martins, is an oil industry veteran at Sonangol. The engineer most recently served on Sonangol’s board as an executive administrator. Saturnino was appointed in November 2017.