Ver Angola

Energy

Sonangol wants to enter fuel markets in Congo, South Africa, Zambia and Namibia

Sonangol wants to enter the fuel and gas supply market in Namibia, Congo, Zambia and South Africa. The flagship oil company hopes to expand its business later this year to Congo, South Africa and Zambia and, by 2022, enter the Namibian market.

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Cited by the Expansion, Sebastião Gaspar Martins, chairman of Sonangol's board of directors, who spoke during the presentation of the company's preliminary accounts, considered that the oil company is able to compete in the markets of those countries.

The PCA of the oil company also said that even practicing market prices, Sonangol has conditions to gain ground in the market of these four countries through the supply of refined products.

In presenting the oil company's restructuring strategy last week, Edson Pongolola, Sonangol's director of planning, took the opportunity to reveal that the oil company should initially sell imported fuels, hoping in the future to increase its production capacity to begin exporting.

The state-owned oil company is expected to expand its business abroad and enter three refineries that are expected to expand in the country between 2022 and 2025: in addition to the Luanda refinery, Sonangol is also expected to be present at the Cabinda refinery (expected to start up in 2022) and the Soyo refinery (by 2025).

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