Sonangol shrugs off losses

MELBANA Energy’s large state-owned partner in its upcoming Cuban drilling campaign has posted a loss of US$3 billion for 2020.

Sonangol shrugs off losses Sonangol shrugs off losses Sonangol shrugs off losses Sonangol shrugs off losses Sonangol shrugs off losses

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Sonangol's loss compares to $125 million in profit over 2019 thanks to what its chief called an "abnormal" year. 

Revenue dropped 25% to US$5.2 billion last year.