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Investors

Sizeable and diversified production base.

Offshore assets, diversified reserves, growth opportunities in Angola and Namibia, deep shareholder expertise from bp and Eni, conservative leverage, and a clear ESG commitment. The investor story behind Azule Energy.

Moody's rating
B2
Stable outlook
Fitch rating
B+
Stable outlook
Bond issue
$1.2B
January 2025, 8.125% coupon
Maturity
2030
5-year tenor

Committed to long-term value creation.

The perspectives of Azule's CEO and CFO on strategy, financial discipline, and the company's long-term investment case.

Joe Murphy, Chief Executive Officer
Joe Murphy

Chief Executive Officer

"At Azule, we are committed to powering Angola and global markets with responsibility, innovation, and discipline. Our focus is clear: deliver sustainable long-term value through operational excellence, advanced technology, and a balanced, future-ready portfolio. We will continue to strengthen our foundations while unlocking new opportunities for our shareholders, our people, and the communities we serve."

Federico Mazzoni, Chief Financial Officer
Federico Mazzoni

Chief Financial Officer

"Our financial strategy is built on discipline, transparency, and long-term value creation. We remain focused on delivering sustainable returns to our shareholders while investing responsibly in the future of energy."

Group structure

Azule Energy Holdings Limited (AEHL) is the company that primarily manages Group Treasury, Group Tax, Company Secretary, Group Reporting and Internal Audit activities.

Azule Energy’s leadership team, including the CEO and CFO, is appointed by AEHL’s subsidiaries for managing their operation through their respective registered branches in Angola.

Six reasons institutional investors back Azule.

The structural advantages that anchor Azule's long-term equity story.

Deepwater Angolan assets

11 operated blocks, five FPSOs, long-lived reserves in some of the most prolific offshore basins in Africa.

Diversified reserves

Oil, gas, and renewables across a portfolio that hedges commodity exposure and supports long-term cash generation.

Growth opportunities

Production target of ~250k boe/day by 2026–27. Frontier exploration in Namibia's Orange Basin (Block 2914A, discovery confirmed 2025).

Shareholder expertise

50/50 joint venture of bp and Eni — two of the world's most experienced offshore operators, backing Azule's strategy and operational capability.

Conservative leverage

Disciplined financial management. Debt-to-equity managed against long-term commodity cycle, with stable rating outlooks from both Moody's and Fitch.

ESG commitment

40% GHG reduction by 2030, 75% flaring cut, near-zero methane, renewables investment via Solenova, marine ecosystem protection.

An incorporated joint venture, anchored in Angola.

Azule Energy Holdings Limited (AEHL) is the parent company. It manages treasury, tax, and consolidated reporting for the group. Leadership is appointed by the underlying subsidiaries that conduct Angola operations under Petroleum agreements with the Angolan Government, represented by the National Concessionaire.

bp p.l.c. and Eni SpA each hold a 50% share of Azule Energy.

Reports archive.

Quarterly financial reviews, interim statements, and annual reports — back to the company's founding in 2022.

View all financial statements →

Webcast replays and slide decks.

Recent investor calls and presentations from quarterly and full-year results.

View all presentations →

Bond instruments and credit standing.

Three U.S. dollar bonds issued by Azule Energy Finance PLC since 2025, alongside our corporate credit ratings from Moody's and Fitch.

Bond feature
Jan 2025 — $1.2B
Jan 2026 — $850M
Jan 2026 — $650M
Issuer
Azule Energy Finance PLC
Azule Energy Finance PLC
Azule Energy Finance PLC
Issue date
23 January 2025
22 January 2026
22 January 2026
Size
$1,200,000,000
$850,000,000
$650,000,000
Coupon
8.125%
8.25%
8.625%
Maturity
5NC2 – 23 Jan 2030
5NC2 – 22 Jan 2031
7NC3 – 22 Jan 2033
Currency
U.S. Dollars
U.S. Dollars
U.S. Dollars
Listing
International Stock Exchange
International Stock Exchange
International Stock Exchange
ISIN
Reg S
XS2984221239
Rule 144A
US05501YAA64
Reg S
XS3271042338
Rule 144A
US05501YAB48
Reg S
XS3271041959
Rule 144A
US05501YAC21
Rating
Moody's B2 · Fitch B+
Moody's B2 · Fitch B+
Moody's B2 · Fitch B+
B2
Moody's · Stable outlook
Last reviewed 31 December 2025
B+
Fitch · Stable outlook
Last reviewed 19 December 2025

Board representation from bp and Eni.

The Azule Board includes senior directors drawn from both shareholder companies. Joint oversight reflects the 50/50 ownership structure.

Chairman
Guido Brusco
Chief Operating Officer Global Natural Resources and General Manager at Eni
Vice Chairman
Gordon Birrell
EVP Production and Operations at bp
Board Director
Luca Vignati
Director Upstream leading Eni’s global Upstream business at Eni
Board Director
Richard Eaton
SVP of Finance at bp
Board Director
Giorgio Groppi
Head of M&A - Natural Resource & Technology at Eni
Board Director
Ann Davies
SVP Wells at bp
Board Director
Francesca Rinaldi
Head of Operated by Others, Business Performance and Assets Valorization Initiatives at Eni
Board Director
Jennie Burton
VP Finance Low Carbon at bp

The numbers that define our transition path.

Azule's ESG targets and current performance — measured, reported, and audited against bp and Eni's wider Net Zero commitments.

40%
GHG reduction target by 2030
75%
Flaring reduction achieved
~0
Methane intensity (near-zero target)
50 MW
Renewables capacity (Caraculo, phased)

Get in touch.

For investor relations questions, financial reports, or to register for upcoming results calls.

Investor Relations

Email: investor@azule-energy.com

Office: Av. 4 de Fevereiro, 197, Torres Atlantico, Luanda, Angola

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