Africa Monitor

Africa Monitor Intelligence

Angola: Sonangol's Financial Results Compromise Privatization Calendar

The perception of the minister of Mineral Resources, Oil and Gas, DIAMANTINO de AZEVEDO, and the CEO of Sonangol, SEBASTIÃO GASPAR MARTINS, that the results disclosed compromise interest in privatization, led both to review their public positions on the matter, admitting more delays.

Also in relation to the reform of the oil and gas sector, which started in 2016, several aspects remain to be resolved. The creation of the National Agency for Petroleum, Gas and Biofuels (ANPG) in 2019, now responsible for managing the concessions while Sonangol focuses on the exploration and production business, has dragged on due to differences between the two entities in the allocation of workers. READ MORE