Luanda - The Minister of Mineral Resources, Oil and Gas Diamantino Azevedo on Friday highlighted the fundamental and indispensable role the state oil company Sonangol has played for Angola's socio-economic progress.
Speaking at the company’s Angolan 2023 balance activities, the minister recognized the achievements and challenges faced by the national oil company over the past year.
Despite this, the minister urged Sonangol to continue focusing on its core business, with the aim of speeding up measures to fulfill its strategic goals, as set out in the National Development Plan 2023-2027.
The strategy, Azevedo said, has to do with the primary value chain of crude oil and natural gas and to integrate the objectives and targets for the diversification of the national energy matrix, with the implementation of renewable energy projects, green hydrogen, biofuels and fertilizers, among others.
The minister recalled that in 2023, the oil company issued bonds, which served as an opportunity for individual and collective investors to increase the value of their financial capital.
Diamantino de Azevedo said he hopes that Sonangol would continue to be a driving force in the Angolan oil and energy sector, even in the context of a fair, inclusive and contextualized energy transition.
The Angolan National Fuel Company (Sonangol), which celebrates 48 years, is dedicated to the exploration of liquid and gaseous hydrocarbons in the subsoil and on the continental shelf of Angola and responsible for the exploration, production, manufacture, transport and commercialization of hydrocarbons in the country. QCB/ASS /AMP
