Sonangol E.P.

Sonangol E.P. is Angola's state-owned oil company, headquartered in Luanda, founded in 1976 shortly after Angolan independence to hold the state's exclusive concessionary rights over the country's oil exploration and production. Sonangol operates as both regulator and commercial participant in Angola's offshore oil industry, entering production-sharing agreements with international oil companies operating in Angolan waters while also holding its own equity stakes in exploration and production. Oil revenue channeled through Sonangol has long constituted the large majority of the Angolan government's export earnings and a dominant share of state revenue, making the company central to the country's economy and, at times, a focus of public scrutiny over state oil-revenue management.