Sat, 19 Oct 2019 14:57 - Updated Sat, 19 Oct 2019 14:51
New fuel distribution company soon
Luanda - The Competition Regulating Authority (ARC) has given the green light to the Angolan National Fuel Society (Sonangol) and Total Oil Company to create a company to operate in the logistics, distribution and trading of oil products.
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Sonangol and Total set up fuel distribution company
Photo: Bráulio Pedro
The case, which has been under consideration by the Competition Regulatory Authority (ARC), which is assigned to the Ministry of Finance, provides that Sonangol and Total will also operate in the solar energy segment.
“Competition Regulatory Authority decides not to oppose the merger between Sonangol and Total by submitting commitments made by the notifiers,” reads the ARC document to which Angop had access on Friday.
With this concentration, the companies can make the joint investment through the formation of a limited company, destined to the development of the logistics, distribution and commercialization of products derived from liquid and gaseous hydrocarbons.
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Luanda - The French Oil company Total said it spent USD 2.5 billion on three new projects in 2018 to increase the production of more 100,000 barrels of oil per day in block 17 in the Angolan offshore.
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Luanda - Angola's Oil company (Sonangol) Thursday said it was investigating the accuracy of the detention of the Quenguela drillship by Malaysian authorities for allegedly berthing without authorisation in the territorial waters of that Asian country.
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Luanda - Angola's National Oil, Gas and Biofuels Agency (ANPG) announced that it will launch a public tender on Wednesday to bid for 10 blocks of oil exploration in Namibe and Benguela basins, which covers an area of approximately 55, 387 square kilometers.