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sonangol Sonangol's main strategy is to enter into joint-venture projects with major oil companies for both upstream and down-stream operations. Sonangol has played an important role in getting more and more Angolans to enter the oil industry at skilled and management levels through extensive training programs. Sonangol has also hooked up with Texaco to develop a US$3 billion liquefied natural gas (LNG) project to convert natural gas extracted from offshore oil fields to LNG for domestic consumption. www.summitreports.com /angola/sonangol.htm   (976 words)

Winne.com - Report on Angola - Angola's tormented path to petro-diamond led growth Sonangol's main social goals are prospecting, research, development, production, transportation, commercialisation, refining and transformation of liquid and gas carbohydrates and its derives, as well as petrochemical activities. Sonangol is also directly or indirectly involved in complementary or extra activities to its social objective or any other industrial or commercial activities, by decision of the Administration Council. By its social activity, Sonangol has the right to establish new firms and acquire all or part of the capital of the firms established or to be established as long as it detains all or a majority of the voting capital of such companies, establish the coordination, economic and financial administration and business development.2. www.winne.com /angola/to22.html   (622 words)

Sonusa Sonangol U.E.E. was created under decree 52/76 on June 9th 1976. Today, it is a public company with the social and economic mission to research, explore, produce, refine, negotiate and distribute all of the hydrocarbon resources controlled by the Government of Angola. Sonangol USA Co (SONUSA) was inaugurated on November 12th 1997, and initiated its business activities in January 1998. www.sonangol-usa.com /index_en.shtml   (93 words)

Sonangol - Subsea Oil and Gas Directory Information Sonangol was established In 1976 as the national oil company of Angola. Sonangol is fully owned by the state and serves as the business arm of the Angolan government. Sonangol is a prominent member of the subsea oil and gas directory. www.subsea.org /company/listdetails.asp?companyid=351   (250 words)

Alexander's Gas & Oil Connections - Sonangol soon to announce new deep water operators The Sonangol official said new bids were now being received for ultra-deep blocks 31, 32 and 33. Sonangol said the signature bonds which have been accepted for blocks 24 and 25 are the highest paid in Angola so far, topping $ 60 million. Sonangol has acknowledged that for blocks 31, 32 and 33 there was a company which had right of first refusal on the operatorship. www.gasandoil.com /goc/company/cna82493.htm   (491 words)

Making a Killing - The Center for Public Integrity Sonangol created a "social bonus fund" to receive this money, though the number of bank accounts linked to the fund have reportedly mushroomed to more than 20, and the boundaries between them and Sonangol's myriad other accounts are unclear. The significance of the Sonangol transactions lies not in any single one, but in their indication that large amounts of oil wealth are moving through accounts and settling government business out of the purview of budgetary monitors. CEO Vicente says Sonangol reports on income from each barrel of oil to Angola's Parliament at quarterly meetings and directs all of the profits remaining after the company pays its bills to the central bank as required by law (though the company does collect a fee for oil trading). www.publicintegrity.org /bow/report.aspx?aid=150   (6442 words)

Monday Notebook From the start, Sonangol’s revenue was appropriated as a war chest to fund the long fight against UNITA, which was funded by sales from diamonds and timber as well as South Africa’s apartheid regime and the US government. In 2000, the IMF asked Sonangol to conduct an analysis, or diagnostic, of its accounting practices, one of a list of benchmarks the government had to meet in order to qualify for the debt-restructuring programme. Vicente, Sonangol’s chief executive, appears to be a jovial man as he smiles over a drink in the bar of Washington, DC’s, swank Four Seasons Hotel. www.nationaudio.com /News/DailyNation/Supplements/notebook/current/story2.htm   (2220 words)

Global Economies: Angola While Sonangol has stakes in most exploration-related activities, it also leads the way in social and community awareness, utilising its resources to improve standards of living for Angolans and pave the way for more consistent development. As the largest contributor to the state budget, Sonangol is involved in a great number of social projects across the country, covering health, education, culture, sports and agriculture. Sonangol also wants to build two new logistics facilities and a new lubricants plant, and filling stations and storage facilities are still needed. www.nytimes.com /global/angola/eighteen.html   (616 words)

WallSt.net - Better Tools For Better Investors LUANDA (Reuters) - Angola is expected to see $50 billion in investments in its oil industry in the next six years, the head of state oil company Sonangol was quoted on Thursday as saying. Sonangol Chairman Manuel Vicente made the prediction despite the collapse of two major international energy deals and the possibility of renewed political tension after the main opposition leader said policemen may have tried to assassinate him. Sonangol has ended talks on Chinese company Sinopec's plans to invest in a $3 billion oil refinery, industry and banking sources said on Wednesday. wallst.net /news/news.asp?Source=REUTERSNEWS&id=9433   (459 words)

Angolan Oil Millions Paid into Jersey Accounts - Global Policy Forum - Nations and States The Lloyds TSB offshore accounts in the name of the Angolan state oil company, Sonangol, include cash payments by the companies to the government in return for exploration permits in the booming Angolan deep water oil fields. The BBC this month quoted a leaked study by the IMF alleging that in 2001 alone around £600m had apparently disappeared from the state's coffers, although the Angolan government said as far as it was aware no money had disappeared. Sonangol's chief executive, Manuel Vicente, says that it was to maintain foreign investment that the government opened up a series of bank accounts outside Angola. www.globalpolicy.org /nations/corrupt/governmt/2002/1102angolaoil.htm   (876 words)

Alexander's Gas & Oil Connections - Sonangol and ChevronTexaco to set up LNG project   (Site not responding. Last check: ) Senior executives from Sonangol and ChevronTexaco signed the deal to build the "Angola LNG project" at Soyo in the northern coastal province of Zaire. The project involves a total investment of $ 3 bn and is led by Sonangol and ChevronTexaco, with the Angolan state energy firm holding 22.8 % of shares in the venture to the 36.4 % held by the US oil giant's Angolan affiliates. Sonangol's Vice President Syanga Abilio was quoted as saying that the northern LNG plant will begin exporting to the United States in 2009 and could eventually become the biggest gas supplier to the world's biggest economy. www.gasandoil.com /goc/company/cna52111.htm   (282 words)

Total, Sonangol make oil find in Angola - Boston.com Technical studies are under way to evaluate the results from the tests, and further exploration drilling is under way and planned across the area. Sonangol, the state oil company, holds the concession rights for the area where the test well was drilled. The contractor group is formed by Total, which holds a 30 percent interest; Sonangal with 20 percent and Marathon Oil Co. with 30 percent. www.boston.com /business/articles/2007/01/03/total_sonangol_make_oil_find_in_angola   (183 words)

allAfrica.com: Angola: Sonangol to Join Johannesburg and New York Stock in 2010 (Page 1 of 1)   (Site not responding. Last check: ) He considered as positive the results attained by Sonangol in 2006, with preliminary revenue of Akz 80 billion, equivalant to Usd one billion, that is an amount roughly equal to that of 2005. Another Sonangol's goal mentioned by Manuel Vicente has to do with Angola LNG Project, involving the construction of a plant in Soyo, northern Zaire province, for the production of natural gas, with the first consignments expected for late in 2010. He also disclosed that Sonangol has already bought 40 percent of a regasification plant in the USA that, along with Europe, will be the main destination for Angola's Liquefied Natural Gas. allafrica.com /stories/200702240171.html   (690 words)

SONANGOL E.P Sonangol Group's Marketplace for buyers and suppliers operating in the Angolan market. In Angola Sonangol Group promotes projects and activities that contribute to a better quality of life and to sustained development. Equipa de Futsal da Sonangol EP bicampeã do torneio BAI www.sonangol.co.ao   (77 words)

The domestic economy: New licensing conditions boost local content - Semiconductor International The conditions under which Sonangol is carrying out its latest licensing round mark a significant step forward for the government’s long-term strategy to build up Angolan expertise, employment and content in the oil sector. In an effort to increase local content, Sonangol has for years taken minority or majority stakes in joint ventures with foreign oil service companies, a process that has resulted in some equipment for the oil industry being manufactured in Angola. In the past, Sonangol has successfully resisted forms of political interference in the oil sector that threatened the efficiency of its operations. www.reed-electronics.com /semiconductor/article/NEe0316107.7iu   (557 words)

Marcon International, Inc. - Ship Brokers & Marine Consultants In May 2004, Sonangol and the Angolan government extended CABGOC's contract, which was set to expire in 2010, to 2030. Sonangol has estimated that the $3.5 billion refinery could be operational by late 2009. Chevron and Sonangol are developing the Angola LNG plant, which will convert associated natural gas resources from several offshore oil fields for export. www.marcon.com /marcon2c.cfm?SectionGroupsID=51&PageID=353   (2841 words)

An MBendi Profile: Angola - Oil and Gas: Crude Petroleum and Natural Gas Extraction - Overview In 1978, the government authorised Sonangol to acquire a 51% interest in all oil companies operating in Angola, although the management of operations remained under the control of foreign companies. Sonangol is concessionaire of the block, while ExxonMobil holds a 40% interest, BP Exploration Angola Ltd has a 26.67% share, Italy ’s Agip Angola Exploration B.V. holds a 20% interest, and Norway ’s Den Norske Stats Oljeselskap holds the remaining 13.33%. Sonangol is the state owned oil explorer and producer. www.mbendi.co.za /indy/oilg/ogus/af/an/p0005.htm   (1541 words)

Greasing the Skids of Corruption from the Center for Public Integrity report Making a Killing The fact that government business was conducted through offshore Sonangol accounts ­ and that Sonangol receipts never made it back to Angola ­ violates a 1995 Angolan law requiring all foreign currency receipts and government revenue to pass through the central bank. Aside from money that Sonangol transferred to its subsidiaries during the three-month period, the largest block of cash to leave the Jersey accounts ­ some $7.2 million ­ went to construction companies. Among the largest transfers into Sonangol's Jersey island accounts during the third quarter of 2000 was the $13.7 million from Marathon Oil ­ just one-third of the signature bonus the company had agreed to pay for the opportunity to share in Angola's oil wealth. www.thirdworldtraveler.com /Weapons/Greasing_Skids_MAK.html   (6408 words)

Al Jazeera English - Archive   (Site not responding. Last check: ) The figure could be as high as 10.4 billion barrels, officials at state oil firm Sonangol said on Monday. Sonangol officials were optimistic the target would be achieved. Sonangol officials said they had proposed a 60-day time frame, but some oil companies had asked for longer, so results would probably not be known until March. english.aljazeera.net /NR/exeres/9F4CB99E-C326-4622-BBC8-130635903478.htm   (471 words)

Angola Economy Sinopec has also formed a partnership with Sonangol to operate Block 3/05 (formerly Block 3/80), whose operatorship was transferred from Total to Sonangol recently. Sonangol will seek to expand its operatorship of onshore and shallow water blocks. Sonangol and Sinopec will also be eyeing future concession rounds, particularly for 23 blocks in the Kwanza Basin onshore area and the relinquished parts of Blocks 15, 17, and 18, currently operated by Exxon, Total, and BP. www.traveldocs.com /ao/economy.htm   (1469 words)

International Spotlight: Angola Since 1978, Sonangol has been authorized to acquire up to a 51 percent interest in all petroleum exploitation activities. Sonangol is particularly keen to award concessions for its deep-water sites which require massive investment, despite the existence of large tracts of open shallow water acreage. Sonangol's Manuel Vicente says, "Together with Texaco, we are planning to build a liquefied natural gas plant in Luanda. www.washingtonpost.com /wp-adv/specialsales/spotlight/angola/article2.html   (986 words)

[No title] Sonangol Chairman Manuel Vicente made the prediction despite the collapse of two major energy deals and the possibility of renewed political tension after the main opposition leader said policemen may have tried to assassinate him. Sonangol has ended talks on Chinese company Sinopec's <0386.HK> plans to invest in a $3 billion oil refinery, industry and banking sources said on Wednesday. Angola, which has joined the Organization of the Petroleum Exporting Countries, is pumping more than one million barrels per day (bpd) of crude oil and production is projected to reach at least two million bpd by 2008 as new fields come onstream. www.alertnet.org /thenews/newsdesk/L08456414.htm   (602 words)

energyme.com :: Aker Kvaerner awarded subsea contract with Sonangol Sonangol Pesquisa e Producão S.A. has signed a letter of intent with Aker Kvaerner for supply of the subsea production system at the Block 4/05 - Gimboa field offshore Angola in West Africa. "We are proud to be awarded this contract with Sonangol, the national oil company of Angola, where we will use our already well-proven subsea production system technology. We consider this contract to be of strategic importance to the growth of our activity in Angola," said Raymond Carlsen, executive vice president of Aker Kvaerner Subsea. www.energyme.com /energy/2006/200600724.htm   (229 words)

Angolan Oil Moving into Africa's No 2 Spot - Science - RedOrbit   (Site not responding. Last check: ) The government and Sonangol tied investment in the refinery to a number of upstream assets and so interest has been greater than in most other refining projects elsewhere in Africa. Demand was limited during the long civil war years, not least by the very poor state of the nation's roads outside the capital, Luanda, while the number of retail fuel outlets declined from 4-500 to around 100 over the same period. Indeed, Sonangol estimates that demand will increase five- fold over the next two decades, so the new refinery may be needed to supply Angolan customers. www.redorbit.com /news/science/431190/angolan_oil_moving_into_africas_no_2_spot/index.html?source=r_science   (916 words)

Winne.com - Report on Angola - Angola's tormented path to petro-diamond led growth It was necessary to maintain communications with headquarters as well as with the different regional offices, offshore oil platforms, and, with the establishment of air and sea transportation structures, with aircrafts and ships. One of its sub systems is composed of a fixed and mobile inter-provincial radio network, which guarantees communications from Sonangol Holding and Distribuidora, as well as the regional and provincial delegations. The microwave system of Luanda connects Sonangol to its subsidiaries and also enables intra communication of the latter for the transmission of data and sound. www.winne.com /angola/to18.html   (790 words)

ChevronTexaco Press Release - Sonangol and ChevronTexaco Announce Key Agreements for the Angola LNG Project Project co-leaders Sonangol and Cabinda Gulf Oil Company, a subsidiary of ChevronTexaco, and their co-venturers BP, ExxonMobil and Total in the Angola LNG Project today announced that agreements have been signed to establish the principles for gas supply, corporate structure, and legal and regulatory framework for the Project. The agreements, which support the commencement of Front-End Engineering and Design studies, were reached thanks to the strong collaboration between the Government of Angola and the Project co-venturers. Manuel Vicente, President of the Administration Council of Sonangol E.P., speaking as Concessionaire for hydrocarbon licenses in Angola, noted his expectations of the impact Angola LNG will have on petroleum activities in the country, saying "The LNG Project is critical to Angola's objectives of expanding the petroleum sector. www.chevron.com /news/press/2005/2005-03-10.asp   (591 words)

2000 Press Releases "The results are encouraging, and Sonangol is preparing to proceed with the next phase," said Syanga Abilio, vice president of Sonangol. Sonangol, created in 1976, is 100% owned by the Angolan government and is the sole concessionaire for oil exploration and production in Angola. The main businesses of Sonangol are oil exploration and production, petroleum product supply to the domestic market, petroleum product and crude oil external marketing, and an airline industry to support the petroleum operations. www.halliburton.com /news/archive/2000/kbrnws_120700.jsp   (339 words)

People's Daily Online -- SONANGOL reaches 100,000 barrels daily production The information was released Thursday by SONANGOL press officer, Jose Rosa Santos, who added this progress represents a leap forward and reflects the evolution of the company over the years. He said as well that the 100,000 barrels a day represents a special goal as it is the result of a hard work by Angolan technicians over the last 30 years. Within the framework of the information technologies, he said, SONANGOL, through its subsidiary, Mstelcom, is investing in products of the most modern generation, such as satellite voice, fax and data telecommunication systems. english.people.com.cn /200608/04/eng20060804_289743.html   (179 words)

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