Sonangol says the deal is a ‘solid step’ towards privatisation
Sonangol exits Trafigura’s Puma
The NOC will sell its stake in Puma Energy in return for the firm’s Angolan assets
Trading house Trafigura will pay $600mn for Angolan NOC Sonangol’s 31.78pc stake in Singapore-based Puma Energy. But, in a separate deal, Puma will sell its assets in Angola to the state-owned heavyweight for the same price. The former deal will increase Trafigura’s share in Puma to more than 90pc. In the latter, Sonangol will take ownership of the TCPL fuel terminal in Luanda Bay, marine and airport terminals, and the Pumangol network of retail service stations. Puma’s proceeds from the Angolan asset sale—along with a $500mn rights issue—will be used to recapitalise its balance sheet, repay debts and “provide a sound financial basis to continue to accelerate its growth plans”, the companie
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
