Angola’s state-owned oil company, Sonangol, has secured a $2.65 billion financing package from a group of international lenders to support its operations and investment plans.

The funding agreement was arranged by a consortium of foreign banks, including Standard Bank, Societe Generale, Absa, and First Abu Dhabi Bank. While details of the loan terms were not disclosed, the financing is expected to help the company cover operational costs and fund capital projects.

Sonangol plays a central role in Angola’s energy industry, with activities spanning oil and gas exploration, production, refining, and distribution. As the country’s largest company, it remains a key contributor to the economy of one of Africa’s leading crude oil producers.

The latest financing comes as Sonangol continues efforts to secure additional funding for major infrastructure projects. The company is reportedly in discussions with Chinese financial institutions over a separate $4.8 billion loan that would help finance the construction of a new refinery in the port city of Lobito.

The refinery project is part of Angola’s broader strategy to expand domestic refining capacity, reduce dependence on imported fuel products, and strengthen its position in regional energy markets.

The fresh injection of capital is expected to support Sonangol’s ongoing investment programme as the company seeks to maintain production levels and advance key energy developments across the country.