STP to Terminate Sonangol and Sinopec Stake

Monday, December 12, 2016

Sao Tome and Principe (STP) is terminating the concession rights held by Sinoangol, a JV between Sonangol and Sinopec. The JV held a stake in one of STP’s blocks along with Galp Energia.

STP’s oil and gas regulator, ANP, said it decided to terminate the Sinoangol JV’s rights due to breach and violation of their contract.

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