Angola’s national oil company, Sonangol, has reaffirmed its commitment to an initial public offering (IPO), with 30% of its shares set for public listing. The partial privatization aims to raise capital to support exploration and production projects, positioning Sonangol as a competitive player in the global upstream market.
CEO Sebastiao Martins confirmed that the company is making significant internal preparations for the IPO. Sonangol currently produces over 200,000 barrels per day and supplies 5.4 million metric tons of refined products to Angola’s domestic market. The company holds stakes in 35 oil concessions, nine of which it operates directly.
Source: Energy Capital and Power
