Via OilPrice.com, a report on Angola’s Sonangol: OPEC producer Angola plans to raise much-needed cash via selling a stake in its state oil firm Sonangol by early 2022 as the crash in oil prices—and the pandemic—severely weakened the country’s finances. Angola is considering selling part of Sonangol, as well as a stake in the national […]
Read more »Courtesy of STRATFOR (subscription required), an interesting look at Sonangol, Angola’s national oil company: Summary Before Angola’s independence in 1975, Portugal imposed a contentious and hastily thrown together power-sharing deal among Angola’s three main ethnic groups: the Bakongo, Mbundu and Ovimbundu. This pact unraveled quickly after independence as Angola descended into a three-way civil war. […]
Read more »Courtesy of The Financial Times, a report that Sonangol, the Angolan state oil group that has amassed assets from Iraq to Cuba, is aiming to raise fivefold its production as an operator. As the article notes: “…Manuel Vicente, whose promotion to minister of state for economic co-ordination in January ended his 12 years at the […]
Read more »Courtesy of Upstream Online, a look at Angola’s Sonangol Group’s interest in investing in Ecuador’s Amazon region. As the report notes: “…Angola’s oil minister and Opec president, Jose Maria Botelho de Vasconcelos, will travel to Ecuador at the end of October to discuss Sonangol’s investment in Ecuador, Jaramillo said during a meeting with foreign journalists. […]
Read more »Via Africa-Asia Confidential, a report that China’s relations with Angola suffered a setback this month when Luanda turned down the acquisition by China National Offshore Oil Corporation and Sinopec of a coveted oil block, and a look at the complicated ownership structure of Sonagol Sinopec International (SSI), a joint venture between Sinopec and China Sonangol […]
Read more »Via Energy Daily, an interesting report on Russia’s renewed interest in African resources. As the article notes: Russian President Dmitry Medvedev’s visit this week to Nigeria, sub-Saharan Africa’s biggest oil producer, to sign natural gas deals threw down the gauntlet to energy-hungry China, which has been aggressively sinking its commercial hooks in the mineral-rich continent […]
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