What is the amount and purpose of the financing Sonangol secured from foreign banks?

Sonangol secured a $2.65 billion financing deal with a syndicate of foreign banks—including Standard Bank of South Africa, Societe Generale, Absa, and First Abu Dhabi Bank—to fund its operational expenditure and capital investment.

What additional financing is Sonangol pursuing, and for what specific project?

Sonangol is in ongoing talks with Chinese financial institutions to secure a $4.8 billion loan to partly finance the construction of a new refinery in the Atlantic port of Lobito.

Angola's state oil firm secures $2.65 billion financing from foreign lenders

Jun 16, 2026

Angola's state oil company Sonangol secured a $2.65 billion financing deal with foreign banks to fund operations and investments. Ongoing talks with Chinese institutions aim to secure $4.8 billion for a new refinery in Lobito.

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Angola's state oil firm secures $2.65 billion financing from foreign lenders

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