Petroleum Africa
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Tuesday, August 21, 2018
Angola is planning on establishing a new national agency to undertake the management and sales of petroleum concessions in the country, the National Agency of Petroleum and Gas. This is part of President João Lourenço’s reforms aimed at boosting the country’s production.
The reorganization is expected to be complete by 2020, according to a statement given to reporters by Oil Minister Damantino Azevedo last week.
The creation of the agency will reduce Sonangol’s power over the sector. The state-run firm has often been the target of rights groups for its lack of transparency.
The new agency will become the national concessionaire, replacing Sonangol in its long-held role. The interests will be transferred in the H1 2019
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