April 30, 2016 9:43 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Sonangol EP

Company Overview

Sonangol EP engages in the exploration of oil and gas on the subsoil and continental shelf of Angola. Its activities include prospecting, exploration, development, production, transportation, marketing, refining, and processing of crude oil and gas, and other hydrocarbons; and the supply, storage, and distribution of refined petroleum derivatives. The company was founded in 1976 and is based in Luanda, Angola with offices in Cape Verde, Brazil, the United States, Venezuela, Singapore, Hong Kong, Portugal, and the United Kingdom.

Rua Rainha Ginga, No 29-31

Baixa de Luanda

Distrito das Ingombotas

Municipio de Luanda

Luanda,  1316


Founded in 1976


244 222 334448


244 222 391782

Key Executives for Sonangol EP

Chief Executive Officer and President
Vice-President and Member of the Administration Council
Vice-President and Member of the Administration Council
Vice-President and Member of the Administration Council
Vice-President and Member of the Administration Council
Age: 59
Compensation as of Fiscal Year 2015.

Sonangol EP Key Developments

Sonangol to Provide Aviation Fuel in Sub-Saharan Africa

Sonangol to provide aviation fuel in Sub-Saharan Africa agreement enables Bestfly to control fuel supply to aircraft from its own 45,000 litre bowser provided by Sonangol of Angola. Under the terms of the agreement Sonangol will provide continued access to the bowser and aviation fuel. To streamline the system even further Sonangol has a single point of contact in the accounts department handling accounting, fuel requests and pre-flight inquiries making the fuel administration process leaner for all concerned.

Sonangol Reports Preliminary Consolidated Earnings Results for the Year Ended 15 January 2015; Reports Operational Results for the Year Ended 15 January 2015; Provides Operational Guidance for the Year 2015

Sonangol reports preliminary consolidated earnings results for the year ended 15 January 2015. For the year, the company reported sales of Sales $36,476 million against $41,250 million a year ago. EBITDA was $6,270 million against $7,169 million a year ago. Pre-tax profit was $1,577 million against $4,377 million a year ago. Net profit was $710 million against $3,089 million a year ago. For the year, total production of crude oil of 1.67 million barrels per day down 2.6%. Total production of refined products was 2,161 million metric tonnes up 2.0%. The effects of this production decrease were partially offset by a positive variation in the price of petroleum. The company provides operational guidance for the year 2015. The company targets to achieve and sustain a production level of 2,000,000 barrels of oil per day by the beginning of 2016; and complete the ongoing projects that will enable to achieve the goal of 2,000,000 barrels of oil per day by the beginning of 2016.

The China Development Bank Grants Credit Facility of USD 2 Billion to Sonangol E.P

The China Development Bank has decided to give a loan worth USD 2.0 billion to Sonangol E.P to help it advance its expansion projects in the oil and gas sectors.

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Recent Private Companies Transactions

October 8, 2015
Banco Millennium Angola, S.A.
August 23, 2015
CIE Angola Block 20 Ltd. and CIE Angola Block 21 Ltd

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