“Crude Oil: Power, Turnaround and Transformation in Angola” Gains Backing from Industry Leaders

Senior Angolan oil and gas leaders gathered in Luanda on Wednesday to support the launch of African Energy Chamber (AEC) Executive Chairman NJ Ayuk’s latest book, “Crude Oil: Power, Turnaround and Transformation in Angola,” a timely examination of the reforms, leadership and industry transformation reshaping one of Africa’s most important energy markets.

Among those lending their support to the launch was Sebastião Gaspar Martins, Chairman and CEO of Sonangol Group, alongside senior industry figures including Sergio Pugliese, AEC Executive President, and Dr. Adilson Mangueira Nelumba, CEO of COPIA Group Companies.

The launch comes as Angola’s oil and gas sector enters a new phase of reform-driven investment and activity. Recent developments include the $5.1 billion Greater PAJ final investment decision in June and a significant oil and gas condensate discovery by Chevron offshore Block 0 in August, while national oil production has remained around the one-million-barrel-per-day mark through 2026.

Martins underscored the significance of Angola’s institutional reforms, particularly the transfer of the concessionaire role to the National Oil, Gas and Biofuels Agency (ANPG), which he described as “far more than an institutional reorganization.” The reform enabled Sonangol to progressively transition from an organization combining state responsibilities with commercial activities into a company increasingly focused on competing, operating, investing, innovating and creating value.

Martins also stressed that Angola’s resource wealth must be measured by what it enables the country to build. “Natural resources by themselves do not transform a nation. It is the institutions, the people, the decisions, and the capacity to convert those resources into value that truly transform a country,” Martins said.

For Ayuk, the story is ultimately one of a country that chose to confront the structural challenges facing its petroleum sector and reshape its trajectory from within.

“Most of the time when we talk about the oil industry in Africa, it’s bad news,” Ayuk said at the launch. “Angola has had a turnaround story. Angolans wrote that history – it’s Angolan ingenuity at its best.”

He singled out the creation of ANPG as one of the most consequential developments of the past decade, arguing that the institutional reform fundamentally changed the way Angola approached its petroleum industry.

“The only model of success for reform and transformation is leadership,” Ayuk said.

For Angola, the next chapter of that transformation is increasingly focused on converting petroleum production into broader economic value and building a competitive domestic energy-services industry.

“Production is the starting point, not the destination. We understand that real value begins when we manage to transform a produced barrel into investment, infrastructure, industry, knowledge, employment, and opportunities,” Martins said. “For us, local content cannot simply mean replacing a foreign company with an Angolan company. It must mean creating competitive Angolan companies capable of providing services in Angola today and competing across Africa tomorrow.”

Representing the private sector, Nelumba highlighted the gradual growth of Angolan participation in the oil and gas industry following the introduction of the country’s local-content framework.

“After the enactment of Law 271/20, local content in Angola – though timidly – grew to between 12% and 15% that already works directly with operators or International Oil Companies… The Government has drawn up the plan; now it is up to us to execute it,” Nelumba said.

Pugliese likewise highlighted the impact of Angola’s reforms, saying, “These have been reforms that have transformed our oil and gas industry, and attracted both confidence and investment into our industry.”

With major projects moving forward and the country seeking to deepen investment, local content and value creation across the energy chain, “Crude Oil: Power, Turnaround and Transformation in Angola” arrives at a pivotal moment – documenting not simply Angola’s petroleum history, but a continuing transformation that could offer lessons for resource-rich economies across Africa.

Crude Oil: Power, Turnaround and Transformation in Angola is now available for purchase. Buy the book on Amazon