Angolan President Jose Eduardo dos Santos may step down as leader of Africa’s second-biggest oil producer before or after elections next year, a spokesman for the ruling party said.
The Angolan Cabinet’s reappointment of Manuel Vicente as the head of the state oil company, Sonangol EP, appears to have thrown open the race to succeed President Jose Eduardo dos Santos.
Angolan President Jose Eduardo dos Santos’s criticism of former colonial ruler Portugal over Lisbon’s probes of Angolans shows he’s ready to exert the economic power of Africa’s second-largest oil producer.
"2015 will be economically difficult because of significantly low oil prices. Some public expenditures will be reduced and some projects postponed. For example, subsidies for fuel prices."
- Dos Santos on Dec 29, 2014