Sonangol reported a net profit of more than US$750 million in 2025, the Angolan state-owned oil company said on Wednesday, as Africa’s second-largest crude exporter continues efforts to stabilise output and strengthen its finances.
The company disclosed the earnings at a press conference in Luanda outlining its performance over the past year.
Sonangol said its oil and gas production averaged 217,000 barrels of oil equivalent per day (boepd) in 2025, reflecting its upstream portfolio and participation in offshore blocks.
Angola, a member of the Organization of the Petroleum Exporting Countries (OPEC), relies heavily on oil revenues to fund its budget and support foreign exchange earnings. The country is sub-Saharan Africa’s second-biggest crude exporter after Nigeria, with hydrocarbons accounting for the bulk of government income and exports.
Sonangol, which plays a central role in managing Angola’s oil and gas assets, has in recent years undergone restructuring aimed at improving transparency, cutting debt and preparing non-core assets for divestment.
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The company has been implementing reforms designed to sharpen its focus on core upstream operations while opening space for private investment in other segments of the energy value chain.
Production in Angola has faced long-term decline due to maturing fields and underinvestment, though authorities have sought to reverse the trend through licensing rounds and fiscal incentives to attract international oil companies.
The 217,000 boepd figure reported by Sonangol reflects its share of production rather than total national output, which is significantly higher.
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The government has been pushing to sustain crude output above one million barrels per day in the medium term, while also promoting natural gas development and downstream projects to diversify revenue streams.
Sonangol’s return to solid profitability comes amid fluctuating global oil prices and ongoing volatility in energy markets. Higher prices in parts of 2025 helped support revenues, although output constraints and maintenance activities weighed on production across several African producers.
Analysts say Sonangol’s financial performance will be closely watched by investors as Angola continues to court foreign capital for offshore exploration and gas monetisation projects.
The state oil firm is also involved in refining and fuel distribution, including the development of new refining capacity aimed at reducing Angola’s reliance on imported petroleum products.
With oil remaining the backbone of the Angolan economy, Sonangol’s earnings are seen as a key indicator of the country’s fiscal health and its ability to navigate external shocks.
Further details on revenue, capital expenditure and debt levels were not immediately disclosed at the press briefing.
