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March 28, 2015 11:20 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Sonangol EP

Company Overview

Sonangol EP, along with its subsidiaries, operates as a concessionaire of oil and gas exploration on the subsoil and continental shelf of Angola. Its business activities include prospecting, research, development, exploration, manufacturing, refining, storage, transportation, and marketing of hydrocarbons and its derivatives; granting of the rights for land and offshore exploration of oil and natural gas; management of oil concessions; distribution of petroleum products, lubricants, oils, and burning materials; and operation of a network of service stations and gas stations. The company also provides radio transmission, microwave telecommunications, and national and international satellite V...

Rua Rainha Ginga, No 29-31

Edífício Sonangol

Caixa Postal

Luanda,  1316

Angola

Founded in 1976

Phone:

244 222 334448

Fax:

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: 58
Compensation as of Fiscal Year 2014.

Sonangol EP Key Developments

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.

Oi To Reportedly Sell 25% Of Unitel

Oi SA (BOVESPA:OIBR4) is under talks to sell 25% stake in Unitel S.A. to other shareholders for more than $2 billion, Bloomberg reported citing people familiar with the matter. Isabel dos Santos and other shareholders such Sonangol are among the possible buyers. BTG Pactual Group (BOVESPA:BBTG11);is advising Oi SA on the sale process. Oi shares were unchanged at BRL 1.43 at the close in Sao Paulo. “Unitel isn’t making any pronouncements on the subject,” Alcirene Queta, a spokeswoman for Unitel S.A said in an e-mailed reply to questions. Mateus Cristovao, spokesman for Sonangol, said by telephone he couldn’t immediately reply to questions seeking comment. Unitel also wasn’t able to provide a comment for Isabel dos Santos, who is on the Board. BTG Pactual Group and Oi SA said they had no immediate comment.

Similar Private Companies By Industry

Company Name Region
Esso Exploration Angola (Block 15) Limited Middle East/Africa
BP Angola Middle East/Africa
Cabinda Gulf Oil Company Limited Middle East/Africa
Oceaneering Angola, S.A. Middle East/Africa
Sonangol Distribuidora Sa Middle East/Africa

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 12, 2014
Angola Block 15/06
 

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