ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Wed, 05 Jun 2019 10:23 - Updated Wed, 05 Jun 2019 10:23

Sonangol's crude oil output above 10 percent

Luanda - The overall output of the State-owned oil firm Sonangol swings from 10 to 20 percent of the overall domestic production, which currently stands at 1.4 million barrels per day, the company's CEO, Sebastião Pai Querido, said on Tuesday.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

The manager, who disclosed the information during a joint press conference granted at the end of the first day of work at the “2019 Oil and Gas Conference”, added that Sonangol intends to increase its current output through the acquisition of new blocks.

In order for this goal to be achieved, he said, the firm is gearing up to participate in the public bidding of new oil wells concessions, to be launched on October 2, this year, by the National Oil, Gas and Biofuel Agency (ANPG).

He also explained that the firm will seek to implement major cooperation and interaction with partners inside its core business, with a view to increasing the output as part of the company’s regeneration process.

As regard the privatization of firms belonging to Sonangol group, Sebastião Pai Querido explained that the companies to be involved in this process have already been listed for assessment.

According to the CEO, in view of the particularities of some of the subsidiaries, Sonangol itself will be at the helm of the alienation process, in line with the principles that have been approved by the state organ that is co-ordinating this programme.  

The sale of some of Sonangol’s subsidiary firms is part of a broader project of the Angolan Executive, which intends to privatise a certain number of public companies through the Capital Market.


The 2019 Oil, Gas Conference taking place since Tuesday in Luanda is scheduled to end on Thursday.

Tags Conferência   Gás   Petróleos  

Read also
  • 05/06/2019 09:46:42

    Crude: Sonangol to alienate 72 of its subsidiary firms

    Luanda - At least 72 subsidiary firms of the National Fuel Society (Sonangol Group) will soon be alienated, in the framework of the restructuration process happening in the state-owned company.

  • 04/06/2019 17:16:02

    Gasoline output to quadruple within two years

    Luanda - Angola’s oil company Sonangol predicts rise in production capacity of gasoline by Luanda Refinery in 2021 from the current 300 to 1, 200 tons per year.

  • 03/06/2019 17:01:42

    Oil, Gas Conference starts Tuesday

    Luanda - The Angolan Oil and Gas Conference 2019, an initiative of Africa Oil & Power, starts on Tuesday in Luanda with the participation of the main players in the world oil industry and consulting firms.