The following report from the Financial Times gives further evidence of the increasing tie up between the fascist dictatorship of Salazar and the Apartheid regime of Verwoerd:
South African mining interests are having talks with the Portuguese Government on concessions to prospect for oil in the Portuguese colony of dngolae It is also possible that they may take over part or all of the existing oil interests of the Belgian-backed Companhia Dos Petroleos (Petrofina) in Northern Angola. The negotiations are between the Portuguese Government and Federale Mynbou, the Afrikaans mining house which recently became associated with General Mining and Finance Corporation, If successful, they could have an important bearing on South Africa's ability to withstand an oil boycott.
The chairman of Federale Mynbou, Mr. W.B. Coetzer, has confirmed that the comp=ny was having talks with Portugal on possible oil concessions in the south of Angola. If successful, expenditure of "a great deal’ of money would be involved. He added that he knew of the possibility that the present contract between Petrofina and the Portuguese Government might be terminated and that, if so, his company wovld be interested. But he stressed that this was a matter for the Portuguese and for Petrofina. Reports reaching South Africa indicate that the Portimuese are dissatisfied with the present rate of development and production by Petrofina, whose reported reluctance to exploit the reserves to the full is attributed to conditions of oversupply in the world oil market, :