Policy & Regulation

Angolan NOC Sonangol to be part privatised

State-controlled oil and gas company Sonangol is to be partially privatised as of June next year
By Staff reporter 11 October 2018 0 32870

Diamantino Azevedo, Angola’s minister of natural resources and petroleum, has announced that state-controlled oil and gas company Sonangol is to be partially privatised as of June next year, Jornal de Angola has reported.

Azevedo said Sonangol’s holding company is to divest its non-core assets, which could result in substantial stakes being sold in the telecommunications, aviation and consumer sectors.

A restructuring and consolidation programme has been under way at Sonangol since August. The programme will strip the company of its ability to...