Financials and Investment News in Angola

Joint Communique between Aferximbank & APRO on the Need for Establishment of an African Energy Bank
5/16/2022 - Having regard to the long, mutually beneficial relationship and cooperation between the African Petroleum Producers’ Organization (APPO) and African Export-Import Bank (AFREXIMBANK),

Consid...
AfDB Funds Angola Initiative to Improve Business Environment
10/23/2019 - The Angolan Government has launched a study funded by the Bank through the KOAFEC trust fund to support the improvement of export diversification and the business environment. ...
Vaalco Paid Due Under Final Settlement Agreement with Sonangol E.P.
7/17/2019 - VAALCO Energy, Inc. has paid $4.5 million to Angola National Agency of Petroleum, Gas, and Biofuels (ANPG), as National Concessionaire, under the terms of the previously announced Settlement Agreement...
Sonangol Settles Cobalt Energy Dispute with $350m Payment
6/29/2018 - Angola’s state energy firm Sonangol said on Friday it made a $350 million payment this month to Cobalt International Energy to settle a dispute over oil block sales. ...
Sonangol and Cobalt Announce $500M Settlement
12/19/2017 - The Angolan National Concessionaire Sociedade Nacional de Combust?veis de Angola — Empresa P?blica (“Sonangol”) and Cobalt International Energy, Inc. (“Cobalt”) announced the signing of an agreement t...
Former Bertling Unit & Six Men Convicted in Angola Bribery Case
9/26/2017 - A former UK division of German logistics and freight company Bertling and six former employees have been convicted by a London court of bribing an agent of Sonangol, the Angolan state oil group. The s...
Angola's Ruling Party Declared Election Winner as Opposition Cries Foul
8/25/2017 - Angola’s ruling MPLA party won national elections by a clear margin, its electoral commission said, citing a provisional tally that the two main opposition parties however rejected. Two days after a b...
Angola Votes for First New Leader in 38 Years
8/23/2017 - Angolans headed to the polls in a parliamentary election expected to usher in the ruling party’s defence minister as the first new leader of Africa’s second biggest oil producer for 38 years. Joao Lou...
Halliburton Resolves Investigations Regarding Angola & Iraq Operations
7/27/2017 - Halliburton Company announced the resolution of the previously disclosed investigations regarding the Company's operations in Angola and Iraq. These investigations began after the Company received an ...
Chevron & Angola Government in Tax & Investment Talks
2/22/2017 - U.S. energy company Chevron is in talks with the Angolan government and state oil firm Sonangol to revise tax terms and any future investment will hinge on those talks, a senior company official was q...
Rolls-Royce to Pay More Than $800m to Settle Bribery Charges
1/17/2017 - Rolls-Royce Plc agreed to pay authorities more than $800 million to resolve charges of bribing officials in six countries in schemes that lasted more than a decade, the U.S. Justice Department and UK ...
Sonangol Delays Payments as it Battles to Reform
11/23/2016 - Angola's state oil company Sonangol has amassed hundreds of millions of dollars in debts and deferred payments to oil majors and contractors while its new chief, Isabel dos Santos, attempts to reform ...
Twin Crises Expose Angola's Failure to Kick its Oil Habit
7/5/2016 - A month ago, a 17 ton shipment of bananas left Angola for Portugal in what state media heralded as a "first symbolic batch" in the resurgence of a farming sector wiped out by civil war. But that war e...
President Warns Oil Fall Leaves Angola Short of Foreign Reserves
6/22/2016 - Angola is running short of foreign reserves to pay for imports because its national oil firm has not contributed to state coffers since January, President Jose Eduardo dos Santos said. Remittances fro...
Sonangol Denies Report about $50 Billion Hole
6/7/2016 - Angolan state-owned oil company Sonangol said a report about a $50 billion shortfall in its accounts is “absolutely false.” ...
Statement by IMF Deputy Managing Director Min Zhu on Angola
4/6/2016 - Mr. Min Zhu, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today: ...
Vaalco Receives $19 Million Payment from Sonangol
3/14/2016 - VAALCO Energy, Inc. received cash funds totaling $19 million from its partner in Angola, Sonangol P&P, which represents the full amount due for its share of past costs outstanding at December 31, 2015...
Statoil Met Police over Angola Payments
2/19/2016 - Oil major Statoil met Norway's white-collar crimes police unit this week to explain payments made to Angola's state energy firm Sonangol, the Norwegian company and public officials said. Statoil denie...
IMF to Lend to African Oil Producers; No Requests Yet
2/2/2016 - The International Monetary Fund said it stands ready to help sub-Saharan Africa's oil exporters cope with plunging crude prices and growing fiscal pressures but has not received any new funding reques...
Angolan Fuel Prices Increase as Government Cuts Subsidy
1/1/2016 - Angola's Ministry of Finance said in a declaration fuel prices were increased to ease the burden of subsidies, Angolan news agency Angop reported. ...

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