Angola's oil is not just a blessing

The video discusses the significant investments by companies like Chevron and Toto in Angola's oil sector, highlighting the country's vast untapped reserves. Despite producing 2 million barrels daily, Angola's economy heavily relies on oil, with 80% of the government budget coming from oil sales. The lack of transparency in fund allocation has been criticized, yet investors continue to engage due to lucrative opportunities. While oil revenues are intended for infrastructure rebuilding, development is mostly seen in Luanda, leaving much of the population in poverty. Angola faces the resource curse, with its economy dependent on oil prices.

Which companies have invested heavily in Angola's oil reserves?

• ExxonMobil and BP

• Chevron and Toto

• Shell and Total

• Petrobras and Gazprom

What percentage of Angola's government budget is made up by oil sales?

• 60%

• 80%

• 50%

• 70%

What is the name of Angola's national oil company?

• AngoPetro

• PetroAngola

• Sonangol

• AngolaOil

What has been the primary use of oil funds in Angola?

• Building new oil refineries

• Investing in education

• Developing renewable energy sources

• Rebuilding infrastructure after the civil war

What economic issue has Angola fallen into due to its reliance on oil?

• Currency devaluation

• Inflation

• Resource curse

• Trade deficit