Sonangol leads oil company delegation in key meeting with Angolan President

By La Afrique Media

Sonangol, along with several other oil operators, have attended a landmark meeting with the President of Angola, João Lourenço.

The meeting was designed to address issues and opportunities in the country, the delegation identifying the excess of bureaucracy in the sector as being unfavorable to the overall development of the industry.

Other issues identified include reviewing of approval processes and the management of the concessionaire.

RELATED STORIES:

 

In July, Sonangol held an international roadshow at the headquarters of the main oil companies to discuss investment plans in Angola and the challenges facing the industry.

The company reached an agreement with the operators to significantly increase the competitiveness of the national oil industry. As a result, production costs per barrel fell by 48% from 2014 to 2016, and cost-cutting and investment efforts led by Sonangol resulted in additional savings of US$1.7bn in 2017.

The meeting also led to the creation of a joint team led by the Ministry of Petroleum, which includes the Ministry of Finance and Sonangol.

Share

Featured Articles

Abu Dhabi Airports prepares for Terminal A opening

A decade in the making, Abu Dhabi International Airport welcomes 6,000 volunteers to test operational readiness of stunning new Terminal A building

Business Chief expands portfolio with new look and coverage

Business Chief Middle East & Africa launches with fresh new look and extended coverage of the region, with exclusive executive interviews and insights

How Octopus Energy grew to become an industry giant

Octopus Energy continues to grow after a deal was agreed to acquire Shell Energy in the UK and Germany, taking its customer base to almost seven million

Perkbox CEO: How to support employees through tough times

Human Capital

How Middle East is embracing the future of digital finance

Corporate Finance

UAE Lulu Group shifts business for global growth and IPO

Corporate Finance