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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
