The French oil company TOTAL will supply 1.2 million tons of oil per year to the Angola state oil company (Sonangol) to meet the needs of the country’s domestic market.
The choice for TOTAL to supply the Angolan market follows the international public tender held by Sonangol last January, which counted on the participation of 20 firms, with view to promoting a healthful market competition.
Fruit of the international public tender, TOTAL kicked off its activity in May this year the first shipment of the refined product.
TOTAL and Sonangol signed on Friday in Luanda an annual agreement for the oil supply to the national market.
In addition to Total, Glencor Energy Uk Ltd was also selected in the international public tender for the import of diesel for the Navy.
Angola currently imports 75% of its refined products.