TRANSPARENCY SNAPSHOT

With large deposits of oil and diamonds, as well as natural gas reserves, Angola is among Africa's most resource-rich countries. It produced 1.7 million barrels of oil per day in 2007, and also generates roughly 10 million carats of diamonds and 26.5 billion cubic feet of natural gas each year. Angola's proven reserves include eight billion barrels of oil and 440 million carats of diamonds.

The Angolan government has taken several important steps since 2002 to introduce revenue and expenditure transparency into the public management of its petroleum and mineral wealth, including new elections and the publication of budgets. But the reforms have been incomplete, and the country retains a host of formal and informal obstacles that keep accounts concealed and prevent citizens from having a direct impact on how the government makes decisions.
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EXTRACTIVE INDUSTRIES

Angola is the second-largest oil producer in sub-Saharan Africa and one of the biggest suppliers in the world to both the United States and China. Oil dominates the Angolan economy, constituting an estimated 58% of GDP and 80% of government revenue.  Production has steadily increased since 2003, and is expected to remain high for several years.  In 2007, Angola produced 1.7 million barrels of oil per day.
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