Petroleum Africa
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Wednesday, September 5, 2018
Angola’s state-owned oil company, Sonangol, submitted a list to the government of subsidiaries to privatize. There were 54 subsidiaries in total on the list.
These 54 entities, which represent one-third of the companies owned by the group, will be privatized to allow Sonangol to “focus on key activities, such as the construction of the Lobito and Cabinda refineries and the expansion of the unit. of Luanda,” said Diamantino Azevedo, the Minister of Petroleum, in an interview reported by Macauhub.
The official added that it is “a continuous process until a large part of Sonangol’s non-strategic activities are eliminated, so that the company becomes a real oil operator.”
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