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Fri, 25 Feb 2011 16:02 - Updated Fri, 25 Feb 2011 16:02

Sonangol negotiates direct participation in Galp


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Luanda – The Angolan oil company Sonangol wants to have a direct participation in Galp Energia of Portugal which is currently held by Amorim Energia, but its strategic guidance does not go through strengthening its weight between the shareholders, said Friday the chairperson of the firm’s Board of Directors, Manuel Vicente.

According to Manuel Vicente, who was speaking on the occasion of the celebration of the 35 years of the company, marked today, the objectives of the Angolan oil firm amid the current changes in the shareholder structure of Galp energy go through a commitment with the Portuguese businessman Americo Amorim.

Galp Energy is currently exploring and producing oil, but mainly refined products, and had, at the end of 2009, reserves of 3.1 billion barrels, and is currently operating in thirteen countries, including Angola.

The participation of Sonangol in the holding company, apart from being the secondary (45 percent) is represented by an offshore company, the Esperanza.