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Thursday, September 13, 2018
Sonangol awarded its fuel oil import deal to Total, a major contract that was previously held by Trafigura, Reuters reported. The contract going to Total is seen to be a key move by Angola’s new president, João Lourenço, to put distance between his government and companies that worked with the previous administration.
Fuel oil was the last major Angolan contract Trafigura had, with volumes of 1.1 million tons in 18 cargoes over 2017 worth some $450 million.
Total is now expected to market a similar amount for Sonangol in 2019.
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