Angola’s state-owned oil company Sonangol reported a net profit of $750 million in 2025, representing an 11% decline compared to 2024.
Sonangol recorded a net result of $750 million (€636 million) in 2025, down from $846 million (€718 million) in the same period of the previous year. The Chairman of Sonangol’s Board of Directors, Gaspar Martins, presented the company’s preliminary 2025 results this Wednesday in Luanda, during a press conference marking the company’s 50th anniversary.
According to Gaspar Martins, the Angolan oil company Sonangol achieved a turnover of $9.1 billion, down 13% compared to the previous year, and an earnings before interest, taxes, depreciation and amortization (EBITDA) of more than $2.5 billion, below the $3.45 billion recorded in 2024.
The average price of Angolan crude grades stood at $69.09 per barrel, a 14% decline compared to 2024, according to data presented on Wednesday.
Sonangol marketed 5.3 million metric tonnes and produced 217,000 barrels of oil equivalent per day, corresponding to its net entitlement. The company operates in 41 concessions, of which it is the operator in 11 blocks, with operated production of 22,000 barrels of oil per day.
China was the main destination for Angolan crude, absorbing 69% of exports, followed by India with 10%, while Canada, Spain, and the Netherlands each accounted for 3%.
