Angola: Pumangol's Jet-A1 Sales Grow 45 Percent in Three Months

31 July 2024
Angola Press Agency (Luanda)

Luanda — The sale of Jet-A1, aircraft fuel, from the fuel supply company in Angola, Pumangol, raised 7.2 billion kwanzas in the second quarter of this year, which represented a growth of 45% compared to the first three months of 2024.

This growth is the result of the conquest of new customers and the increase in the number of weekly flights of existing customers, according to a press release sent this Wednesday to ANGOP.

According to the document, despite a 19% delay in year-to-date volume, compared to the same period in 2023, the company expects to recover and expand its customer portfolio.

In the same vein, the company achieved significant growth in retail fuel sales, with a total volume of 182,802 metric tons (MT), representing an increase of 7.3% compared to the same period of the previous year.

The performance, the note justifies, was driven by diesel sales, which reached 98 thousand and 645 MT, an increase of 12.8% compared to the second quarter of 2023.

Pumangol also said that gasoline sales grew, totaling 84,157 MT, an increase of 1.5%.

In the industrial sector, the company recorded growth in sales of bulk fuels, with a total volume of 139,227 metric tons, a figure that corresponds to an increase of more than 14% compared to the same period of the previous year.

Overall, Pumangol recorded a 9% growth in global sales in the second quarter of 2024, a period marked by a robust performance in the 'B2B' (Business to Business) and 'B2C' (Business to Consumer) segments.

With a focus on sustainability, the company continues to invest in renewable energy projects, highlighting the programs to reduce emissions and promote sustainable practices in all its operations.

With the promise of 'Boosting Communities', the company develops initiatives aligned with the United Nations Sustainable Development Goals (SDGs). Social responsibility actions include social support programs, sponsorships, volunteering and strategic partnerships for the energy transition.

Among the partnerships are the collaboration with Otchiva for mangrove restoration, the partnership with Coca-Cola for recycling initiatives and the support for startups and entrepreneurs developing innovative solutions in sustainable energy.

Pumangol, which directly employs more than 500 people and about 1,900 indirect workers, is an Angolan energy company that operates in the downstream sector and owns three fuel storage terminals and four aviation terminals. It sells fuel, lubricants, bitumen and bituminous emulsions in Angola. QCB/DOJ

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