Luanda delays approving $600m Sonangol-Trafigura deal
Angola is dragging its feet in issuing the required permit for the share swap deal, hoping to gain concessions on debt to Trafigura Group that reached $409 million in 2017, and which the authorities are struggling to pay off.
09/12/2021 at 17h51, by Africa Business+
Last year, the government asked the Swiss group for a second postponement on the maturity of its debt to Angola Exploration Mining Resources (AEMR). This former subsidiary of Trafigura, which was 30% owned by Luanda and operated iron deposits, was liquidated in 2016 following a change in the regulatory framework for the extractive sector.
Recommended articles
Air transport
01/06/2023 at 17h56, by Africa Business+
Luanda’s new airport: Ricardo Viegas de Abreu prepares tender
The Angolan Minister of Transport is drawing up the tender for the concession contract that will govern...
Oil & Gas
05/04/2023 at 18h21, by Africa Business+
Sonangol head Sebastião Gaspar Martins relaunches Angolan privatisation
The state-owned oil group is selling its shares in the depressed Paenal offshore equipment yard.
Mines
06/10/2022 at 16h57, by Africa Business+
Lobito rail corridor : consortium to be in force by June 2023
This major freight infrastructure upgrade project was won in July by Trafigura, Mota-Engil and Vecturis...
Mines
20/07/2022 at 16h32, by Africa Business+
Trafigura consortium wins Angola’s Lobito rail freight corridor
Trafigura, Mota-Engil and Vecturis beat a grouping of three Chinese companies on this 1,300 km link...
Oil & Gas
08/04/2022 at 18h43, by Africa Business+
Sonangol awards tenders to Afentra, Namcor, Sequa, Petrolog, Somoil and Sirius
Angola’s national hydrocarbon company launched a tender on 20 September 2021 for the partial transfer...
Energy
14/03/2022 at 17h51, by Africa Business+
Paul McDade’s Afentra aims to raise new funds
The London-listed junior oil company, set up primarily to carry out acquisition operations, is a candidate...