Sonangol
From Taighde
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Sonangol is the state-owned oil firm for Angola. The company was established in 1976. Sonangol main task is to develop Angola's oil sector. Sonangol has used windfall profits for the oil industry to purchase share stakes in companies in other countries. For the most, Sonangol have limited themselves to regionally countries and their former colonial power, Portugal.
The return on investments is meant to be used either for new investments or build up Angola's energy sector. Angola's Sovereign Wealth Fund is tasked with investments for the long term and development of internal companies. The fund, Fundo Soberano Angolano, was created in 2009.
Subsidiaries
Sonangol Investimentos Industriais (Siind) is a subsidiary of Sonangol tasked with setting up a free trade zone within Angola.
Sonangol StarFish is a unit operating in Brazil developing offshore oil blocks.
