President Joao Lourenco and President Xi met earlier this year
Sonangol must escape former regime’s shadow to achieve IPO
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026
NOC Sonangol is the largest asset on offer in Angola’s ambitious privatisation programme, alongside stakes in other companies including telecoms firm Unitel, the National Insurance Company of Angola and the Angola Debt and Stock Exchange. The last 5–7 years of rule by former president Jose Eduardo dos Santos—in power from 1979 to 2017—were marked by the “hollowing out” of state enterprises, explained South Africa-based risk consultant Marisa Lourenco. While Sonangol had previously been a technically competent company, the increased interference, culminating in the appointment of the president’s daughter, Isabel dos Santos, as the company’s head in 2016, “drove away competent staff”, Marisa L
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
