Highlights Currency crunch sparks fuel crisis Crude output continues to slump London — Angolan president Joao Lourenco began a major shake-up at state-owned Sonangol Thursday, dismissing Carlos Saturnino as chairman and removing other top executives “for public service convenience,” as the country suffers from severe fuel shortages, according to a statement from the president’s office. This is the second time in less than two years that Lourenco has shuffled the leadership of Angola’s oil company, which has been under financial pressure over the last five years. Africa’s second-largest oil producer, which is heavily reliant on refined product imports, is experiencing a fuel crisis due to a lack of foreign exchange. Last week, Sonangol said “difficulties in accessing currencies to cover the costs of importing refined products” had caused the shortages. Angola depends on refined product imports for […]