Ver Angola

Energy

Sonangol recovers claims held on China Sonangol Group

Sonangol announced the recovery of credits on the China Sonangol Group, which, according to the oil company, "has not been able to settle the debt" with the company, transferring the recovered assets to the State sphere.

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"Although it has a vast patrimony abroad, China Sonangol has not been able to pay off its debt to Sonangol", begins by explaining Sonangol - Angola's National Fuel Society, in a statement.

For this reason, "and having identified a number of vessels already built by China Sonangol in Vigo, in the Kingdom of Spain, Sonangol proceeded with their recovery by means of partial compensation with interest on the debt", added the company.

The assets recovered through the credit compensation mechanism were six catamarans, 33 speedboats and a yacht, which Sonangol decided to transfer to the State, "so that it can use them according to its needs".

Sonangol is a state-owned oil company, responsible for the administration and exploration of oil and natural gas in Angola, which has several subsidiaries.

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