Sonangol Group, known as 'Sonangol', is the Angolan state-run petroleum enterprise, and is engaged in the overall management of Angola's petroleum and natural gas reserves. The group has many subsidiaries. The subsidiaries generally have Sonangol as a primary client, along with other corporate, commercial and individual clients. Angola is estimated to have over 5 billion barrels of offshore and coastal petroleum reserves, and new discoveries are outpacing consumption by a 5 to 1 ratio. Nodding donkey pumping an oil well near Sarnia, Ontario, 2001 Petroleum (from Latin petra â rock and oleum â oil), crude oil, sometimes colloquially called black gold, is a thick, dark brown or greenish flammable liquid, which exists in the upper strata of some areas of the Earths crust. ... Natural gas rig Natural gas (commonly refered to as gas in many countries) is a gaseous fossil fuel consisting primarily of methane. ... A subsidiary is a corporation controlled by another. ...
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Sonangol's main social goals are prospecting, research, development, production, transportation, commercialisation, refining and transformation of liquid and gas carbohydrates and its derives, as well as petrochemical activities.
Sonangol is also directly or indirectly involved in complementary or extra activities to its social objective or any other industrial or commercial activities, by decision of the Administration Council.
By its social activity, Sonangol has the right to establish new firms and acquire all or part of the capital of the firms established or to be established as long as it detains all or a majority of the voting capital of such companies, establish the coordination, economic and financial administration and business development.2.
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