Company: Sonangol Group
Country: Angola
Sector: Oil and gas
CEO: Sebastião Gaspar Martins
Website: https://www.sonangol.co.ao
Careers Page: Not publicly listed
LinkedIn: Not publicly listed
Email: Not publicly listed
Headquarters: Luanda, Angola
Founded: 1976
Valuation/Revenue: $5.33bn revenue (African Business Top 250, 2025 ranking); other estimates place Sonangol’s turnover closer to $10.9bn (2023), reflecting different consolidation bases across its many subsidiaries
Sonangol Group (Sociedade Nacional de Combustíveis de Angola) is Angola’s state-owned national oil and gas company, responsible for the concession, exploration, production, refining, and distribution of hydrocarbons across Angola’s onshore and offshore fields. Established in 1976, it is Angola’s largest company and one of the most important state oil companies in Africa, historically funding a large share of the Angolan government’s budget.
What Does Sonangol Do?
Sonangol operates across five main business lines: exploration and production of oil and gas; refining and petrochemicals; trading and shipping of crude and refined products; gas and renewable energy; and distribution and commercialisation of fuels within Angola and neighbouring markets. Historically, Sonangol also held a concessionaire role granting other international oil companies (such as Chevron, TotalEnergies, ExxonMobil, and Eni) rights to operate blocks in Angolan waters, though that regulatory function was transferred to a new independent regulator, the National Oil, Gas and Biofuels Agency (ANPG), in 2019 as part of a broader sector reform.
Is Sonangol Legit?
Yes, Sonangol is Angola’s national oil company and a real, operating parastatal with decades of production history, direct partnerships with major global oil majors, and formal government oversight. It is not privately traded but is one of the most consequential companies on the African continent by revenue and strategic importance.
How Big Is Sonangol?
Sonangol ranked 29th on African Business magazine’s Top 250 Companies in Africa for 2025 with revenue of roughly $5.33bn on the list’s consolidation basis; other industry estimates, factoring in the group’s full subsidiary network (aviation, banking, real estate, plus upstream and downstream fuel sales), put total group turnover closer to $10.9bn in 2023. Angola remains one of Africa’s largest oil producers, and Sonangol’s fortunes are tightly linked to global crude prices and OPEC+ production quotas.
Who Is the CEO of Sonangol?
Sebastião Gaspar Martins has chaired Sonangol’s board and led the company as its top executive since his appointment in May 2019, following years of instability and corruption allegations tied to a previous chairwoman, Isabel dos Santos, who was removed amid asset-freezing investigations in 2017-2020. Martins has publicly emphasised modernisation of the oil sector and has continued to represent Sonangol at industry events into 2026, including recent appearances at Angola Oil & Gas conferences discussing the company’s hydrocarbon strategy and planned IPO timeline.
Who Owns Sonangol?
Sonangol is wholly owned by the Angolan state. The government has signalled plans for partial privatisation, targeting the sale of up to 30% of Sonangol’s shares by around 2027, though as of 2026 the company remains fully state-controlled and no public listing has occurred.
Where Is Sonangol Headquartered?
Sonangol’s headquarters is in Luanda, Angola, at the Sonangol Building on Rua Rainha Ginga in the Ingombota district, the country’s commercial and political capital.
What Has Sonangol Been in the News For Recently?
Sonangol has continued a multi-year restructuring effort begun around 2019: divesting non-core assets in aviation, banking, hotels, and real estate to refocus on core petroleum operations; ceding regulatory/concessionaire authority to ANPG; and preparing for a partial IPO. In 2026, chairman Sebastião Gaspar Martins has been active on the international conference circuit discussing Angola’s hydrocarbon strategy, and reports indicate continued interest from international partners such as Galp in new Angolan investment, with Sonangol’s IPO plans reportedly still on track according to the chairman.
What Is Sonangol’s History and Significance?
Sonangol was created in 1976, shortly after Angola’s independence from Portugal, and became the vehicle through which the state managed its oil wealth during and after the country’s long civil war (1975-2002), historically funding a large share of government spending. Over the decades it built an extensive network of subsidiaries spanning upstream exploration and production, downstream refining and fuel distribution, shipping, and, at various points, non-core ventures in aviation, banking, hotels, and real estate — many of which have since been divested as part of the post-2019 refocusing on core petroleum operations. Sonangol has also historically partnered with international majors including Chevron, TotalEnergies, ExxonMobil, Eni, and Sinopec (through the Sonangol Sinopec International joint venture) to develop Angola’s offshore oil blocks, cementing its role as the essential local partner for foreign investment in Angola’s energy sector.
Links
Website: https://www.sonangol.co.ao
Careers Page: Not found (site offers a “Candidaturas Espontâneas” / spontaneous-application channel rather than a standard job board)
LinkedIn: Not found
Email: Not publicly listed
FAQ
What does Sonangol do?
Sonangol is Angola’s national oil company, involved in exploration, production, refining, trading, and distribution of oil, gas, and related products, alongside historical stakes in aviation, banking, and real estate.
Who owns Sonangol?
Sonangol is 100% owned by the Angolan state, though the government has proposed selling up to 30% of shares in a future partial privatisation.
Who is the CEO of Sonangol?
Sebastião Gaspar Martins has served as chairman and chief executive since May 2019.
Is Sonangol still operating in 2026?
Yes, Sonangol remains Angola’s dominant oil company and continues active operations, restructuring, and public commentary on its planned partial IPO as of 2026.
How much revenue does Sonangol generate?
Estimates vary by consolidation method, ranging from roughly $5.3bn (African Business Top 250, 2025) to nearer $10.9bn (2023 group turnover estimates).
Is Sonangol publicly traded?
Not yet. Sonangol remains state-owned as of 2026, though a partial listing of shares has been proposed for the coming years.