Sonangol, which presented its annual activity report this Tuesday, said that the year 2024 was marked "by numerous challenges", with emphasis on "instability in the geopolitical environment and consequent impact on market behavior, with a reduction in the price of oil from the branches sold by Sonangol".
The average price per barrel was 80.09 dollars, down from 82.04 dollars a year earlier.
The company emphasizes, in a statement, that Sonangol still remained "solid and constant" with a turnover of 10.5 billion dollars and an EBITDA (earnings before interest, taxes, depreciation and amortization) of 3.4 billion dollars reflecting the "capacity to generate profit in a scenario of market volatility.
In 2023, Sonangol recorded revenues of 7,872,965 million kwanzas, equivalent to approximately 11.4 billion dollars at the exchange rate at the time, and consolidated EBITDA of 2,513,653 million kwanzas, equivalent to 3.7 million dollars.
The oil company says in the press release released this Tuesday that it made an investment of 2.4 billion dollars in line with the defined strategic objectives and produced 201 thousand barrels of oil/day.
Sonangol remains the largest investor in oil concessions in Angola, with a strategic presence in 35 oil concessions, nine of which are directly operated.
Sonangol also highlights the completion of the construction of the Barra do Dande Ocean Terminal (TOBD), "a fundamental project for the country's energy security, guaranteeing strategic fuel reserves and contributing to its self-sufficiency.
