Angola is not the next Venezuela, state oil firm says as it cuts debt

Angola is not the next Venezuela, the head of State oil firm Sonangol said on Wednesday while pledging to further cut debt, even if both oil-rich nations have relied heavily on loans from China. Venezuela, the Latin American oil behemoth, has found itself struggling to repay debts to China and Russia that total at least $50-billion. But Sonangol chair Isabel dos Santos said her company was not on a similar track.