From the Field
Angola mulls Sonangol listing
LUANDA, October 12, 2018 – Angola could list shares in NOC Sonangol in a public offering after June 2019, international media reported on Thursday.
“[Sonangol] shares on an exchange, in the future, it’s a possibility,” the country’s Ministry of Petroleum told Reuters following comments by Minister Diamantino Azevedo published by local media.
The news came weeks after President João Lourenço approved a restructuring plan for Sonangol in late September. The NOC is seeking to sell non-core assets and focus on shoring up the declining output of Africa’s second-largest producer, the reports added.