Located on the South Atlantic coast of Africa, Angola boasts a vibrant culture, beautiful scenery and a diverse population of almost 30 million people. Since its independence from Portugal in 1975, it has also become an economic powerhouse, thanks to its strong oil and gas industry. It is currently one of the largest producers of oil in Africa after Nigeria and ahead of Algeria. The sector provides 50 percent of the country’s GDP and 90 percent of its exports.
Key to the prosperity of the oil and gas industry is the National Fuel Company of Angola, known as Sonangol, which has developed in parallel with the country – since it gained sovereignty in the 1970s. Sonangol has played a vital role in promoting Angola’s success on the world stage; this has been made easier since the laws around oil and gas were liberalised, and as a result of President João Lourenço’s efforts to meet Angola’s increasing demand for energy. The country has set out bold targets for its supply through a national initiative called Angola Energy 2025.
In collaboration with World Finance magazine, Sonangol’s CEO Dr Carlos Saturnino explains what the company is doing to enhance Angola’s growth in the oil and gas stakes. The organisation has had a huge impact on the industry, having undertaken important restructuring initiatives. It has also recently set out a Regeneration Programme – a series of initiatives designed to improve the organisation’s efficiency and effectiveness.
Saturnino promotes efficiency, competitiveness and sustainability in all areas of the business, while Sonangol is also committed to sound corporate governance. It contributes $200,000 a month to David Bernardino Paediatric Hospital and has also helped to protect Angola’s wildlife. In Sonangol’s latest supplement, Saturnino talks readers through the various ways in which the organisation has enhanced Angola’s economic performance, through strategy, restructuring and a deep passion for the country’s future.
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