Speaking with Energy Capital & Power at Angola Oil & Gas 2025, Bof said Shell Trading is assisting independent players acquiring mature assets, enabling them to access more structured offtake arrangements. “We have been marketing Angolan crude for many years. However, in the last few years, we have focused on developing structured positions, longer-term arrangements that create a continuous and regular flow.”

Bof noted that Angola’s upstream market has traditionally been dominated by major oil companies and Sonangol. But recent divestments have created opportunities for independent companies to participate more fully. By aggregating production and lifting cargoes more frequently, he explained, smaller partners can optimize cash flow, reduce trade costs and better manage price risks. This approach allows them to repay loans faster, lower interest expenses and distribute dividends more regularly.

“Trade cost is also an important upside because by lifting full cargoes instead of part cargoes, independent companies can save money. Another upside is trade management by spreading lifting during the year instead of once – that optimizes the price risk.”

Bof also discussed how Shell Trading and independent producers are addressing financial and operational challenges following divestments. With many banks scaling back or withdrawing from oil and gas financing, “traders have been called in to bridge that gap,” he said, adding that Shell’s support has been essential for maintaining operations, production and growth. “Shell Trading has deployed its own balance sheet to support independent producers,” he noted, while also building partnerships with DFIs, private funds and regional banks to “bridge the credit gap.”

On compliance and risk management, Bof stated: “We apply the same standards whether we work with an oil major or a startup.” While training and compliance systems require investment, he said, “it’s a very good investment.” Companies that meet international standards, he explained, “become more bankable and gain access to cheaper funding,” enhancing their ability to raise equity.

Watch interview here: https://www.youtube.com/watch?v=M7vohY1QqCo