africa Angola commodities M&A oil

Angola’s Sonangol anticipates payment to Cobalt

Sonangol has paid USD 350 million to Cobalt International Energy, with which the Angolan oil company concludes the USD 500 million owed to the American company.

The payment of this last installment, made on the 11th June , according to a press release from Sonangol, which reached Angop  Friday  occurs within the scope of the agreement established between the two parties, as a way of settling the dispute between the two companies.

With the payment of this last installment (made before the agreed date, that of 1 July 2018), the differences between the two companies are “leveled”.

Source: Angop

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