Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

• The Italian oil company ENI reported a 40% increase in the estimate of oil existing in Agogo oil field in Block 15/06, to a total of one billion (Bn) barrels;

• Sonangol's net debt decreased to USD 1.25Bn at the end of 2019, a 53% decrease from USD 2.68Bn at the end of 2018;

• The second edition of the Angola Oil & Gas conference will take place on June 16-17, in Luanda, as announced last week;

• In international markets, the fears of COVID-19 had a markedly negative impact on a broad range of assets;

• The Angolan Finance Ministry issued domestic debt again last week, notably AOA 2.2Bn issued in Treasury Bills (about USD 4.5 million) and USD 15 million in Dollar-denominated Bonds;

Best regards,
BFA

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