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COMMODITIES: Angola (MRB Dec 2001): Sonangol to lose as oil demand falls.
Angolan state oil company Sonangol may lose some of its leverage over international oil companies because of the falling demand for oil in the current world recession and a consequent fall-off in competition by the oil majors for drilling rights.
Companies expressed concern at Sonangol's growing leverage while competition for drilling rights grew among oil companies. According to a recent Financial Times report, ExxonMobil is now considering trimming its presence in Angola, as it presses them into unwanted joint ventures.
Shell is reportedly willing to increase its holdings. However, the time may not be right for Shell, either - it has indicated that it is considering selling $7bn worth of assets worldwide and plans a further $1bn cost savings in the next two years.
Meanwhile attempts to secure greater transparency in oil reporting - a key element of the International Monetary Fund's 'oil diagnostic' may be set back by reported pressure from Sonangol on other companies not to follow the lead of BP - since ...
- Sonangol Operations & Background.(Company overview)
- Newspaper article from: APS Review Oil Market Trends March 9, 2009 700+ words
Sonangol began operations in 1976, one year after...nationalisation of the Portuguese firm ANGOL, Sonangol's activities include E&P, sales...Teikoku and Total. These are some of Sonangol's main partners. The main oil producers...
- Angola uses Sonangol to diversify, invest overseas.
- Newspaper article from: International Petroleum Finance October 1, 2008 700+ words
...overseas, Angola is using state oil company Sonangol to make strategic acquisitions in new...president, Eduardo dos Santos. Currently, Sonangol is mainly targeting Angola-based finance...power company Energias de Portugal. Sonangol's Portuguese banking portfolio might...
- Cobalt International Energy, L.P. and Sonangol, E.P. Forge Major Partnership.
- Press release article from: Business Wire April 22, 2009 700+ words
...HOUSTON -- Cobalt International Energy, L.P. and Sonangol, E.P. today jointly announced the formation...Mexico deepwater leases to the U.S. subsidiary of Sonangol P&P, Sonangol Exploration and Production International Ltd...
- Sonangol Purchased Equity Interest in Gulf LNG Energy, LLC.
- Press release article from: Business Wire April 28, 2005 700+ words
...Sociedade Nacional De Combustiveis De Angola, Sonangol, jointly announced today that Sonangol has purchased a significant equity interest...terminal will be ready to receive LNG mid 2009. Sonangol is an Angolan company that manages the hydrocarbon...
- ANGOLA - Sonangol Operations & Background.
- Newspaper article from: APS Review Oil Market Trends February 26, 2007 700+ words
...Nacional de Combustiveis de Angola (Sonangol) was created in 1976, one year after Angola gained independence from Portugal. Sonangol is the exclusive concessionaire for liquid...nationalisation of the Portuguese company ANGOL, Sonangol's activities include exploration...
- Sonangol Analysis across The Oil and Gas Value Chain.
- Press release article from: M2 Presswire April 14, 2009 700+ words
...2009-www.companiesandmarkets.com: Sonangol Analysis across The Oil and Gas Value Chain...companiesandmarkets.com adds new report: Sonangol Analysis across The Oil and Gas Value Chain Sonangol Analysis across The Oil and Gas Value Chain...
- Sonangol Appoints Dresdner Kleinwort Wasserstein as Financial Adviser for the...
- Press release article from: Business Wire October 7, 2002 700+ words
...September 2002, the Vice President of Sonangol E.P, Angola's national oil company...estimated to be US$3.6 billion. Sonangol has already been in touch with major...concluded in 2001. It is anticipated that Sonangol will wish to arrange financing for this...
- ANGOLA - Sonangol E&P Operations.
- Newspaper article from: APS Review Downstream Trends February 26, 2007 700+ words
...as an oil E&P company in 1992, Sonangol foresees a rapid increase in its oil production...and gained experience in the oil industry, Sonangol Group established the subsidiary Sonangol SGPS as a drilling firms to support P&...
