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The sacking of Isabel dos Santos from the Angolan state oil company, Sonangol, could have an impact on Portugal’s Galp Energia, according to analysts.
Galp Energia’s ‘speculative angle’ may be reinforced due to changes in Sonangol’s leadership, according to the investment team at BPI.
“The stability of the Amorim Energia holding company has been a source of uncertainty for some time,” and the change in Sonangol may “raise speculation again that could spice up Galp’s merger and acquisitions angle,” BPI analysts said today.
The President of Angola, João Lourenço, sacked Isabel dos Santos from Sonangol, replacing her with Carlos Saturnino, until now the Secretary of State for Petroleum.