Angola’s government has annulled a controversial agreement that would have seen Namibia’s state oil company Namcor take key stakes in a trio of deepwater blocks across three of its basins.
Part of this ill-fated deal led to the suspension in 2023 of former Namcor managing director Immanuel Mulunga amid corruption allegations.
He was subsequently cleared of criminal intent by Namibia’s Anti-Corruption Commission (ACC), but he was nevertheless sacked last year. (To be updated)