Sonangol secures $2.6-billion from international lenders

LUANDA, June 16, 2026 – Angola’s state oil company Sonangol has secured a USD 2.65-billion financing package from a syndicate of foreign banks to support operational expenditure and capital investment in the country, Reuters reported on Tuesday.

The financing involves Standard Bank of South Africa, Société Générale, Absa and First Abu Dhabi Bank, according to a Sonangol spokesperson who did not provide details about the terms of the agreement.

 

Reuters reported in February 2026 that Sonangol was in talks with Chinese financial institutions for a USD 4.8-billion loan to partly fund the construction of a new refinery in Lobito.

Luanda-headquartered Sonangol is Angola’s largest energy company and operates across the hydrocarbons value chain, including oil and gas exploration, production, transportation, refining and marketing.

Photo courtesy of Sonangol

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