Angolan Oil Company Gets $2 Billion Credit From China

Written by Ann Brown

Dec 13, 2014

A U.S 2.0 billion credit will be granted by the China Development Bank to the Angolan Oil Company (Sonangol E.P) to boost its expansion projects in the oil and gas segments.

The information is contained in a Sonangol’s press release that reached Angop on Friday.

According to the source, the granting of the loan was announced on Friday in Beijing (China), during the signing of a partnership accord between Sonangol CEO, Francisco de Lemos José Maria and the chairman of the China Development Bank, Zheng Zhijie.

During the ceremony, Zheng Zhijie expressed satisfaction with the partnership accord he said consolidates the relations between the two countries and the credits the China Develoment Bank has been granting to Angola since 2008.