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Sonangol Group

Company nameSonangol E.P.
Company typeParastatal
SloganProduzir para Transformar
IndustryPetroleum Conglomerate
Key peopleManuel Vicente, President of the Administration Council

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Group Sonangol (in Portuguese: Grupo Sonangol) is a parastatal (a partially state-owned corporation or government agency, cf. national oil company) that oversees petroleum and natural gas production in Angola. Sonangol actually had become a fundraising machine of government. The group consists of Sonangol EP (Portuguese: Sociedade Nacional de Combustíveis de Angola, E.P.) and its many subsidiaries. The subsidiaries generally have Sonangol EP as a primary client, along with other corporate, commercial and individual clients. Angola is estimated to have over 5 Goilbbl of offshore and coastal petroleum reserves, and new discoveries are outpacing consumption by a 5 to 1 ratio.

Sonangol's management team, particularly president Manuel Vicente, has been a target of extensive corruption allegations regarding its link to the Chinese criminal organization known as the Queensway syndicate.

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