Sonangol does not want to sell its stakes in BCP and Galp Energia, although it is selling 56 assets to rebalance its financial situation.
Angolan oil company Sonangol wants to remain a shareholder in Galp Energia and Banco Comercial Português (BCP), despite selling several assets to rebalance its financial situations. The guarantee was given by the company’s chairman, Sebastião Gaspar Martins, in a written statement to Bloomberg: “In relation to Galp, and its main company, our position is considered to be strategic,” he said.
“At this moment, there is no option to sell,” he guarantees. Sonangol, Angola’s state oil company, has an indirect position in Galp Energia through its consortium with the Amorim family in Amorim Energia, which holds 33% of the Portuguese oil company. In addition, Sonangol is the second-largest shareholder in BCP with a 19.5% stake, according to Bloomberg.
About the bank, the chairman says that despite being a non-core asset, it maintains a “strategic nature”. “The decision to sell [BCP] will always be made in line with the interests of the company’s shareholder [Sonangol], which is currently the Angolan state,” Sebastião Gaspar Martins said.