Sonangol intends to go ahead with an IPO in the coming years, although the company did report a $3 billion net loss for 2020.
Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
Oil and gas companies face an increasing risk of government investigations and significant financial penalties if they do not take appropriate steps to comply with international sanctions measures.
Two Scots, including the head of the biggest manufacturer of Harris Tweed, are helping deliver Cuba's first major renewables project.
Leni Gas Cuba has struck a deal with UK solar power and storage specialists CFS (Commercial Funded Solar) to assess the potential for installation and operating renewable energy and hybrid power solutions in Cuba.
Rose Petroleum has raised GBP800,000 to develop opportunities that have arisen in Cuba.
London listed Leni Gas Cuba, the Cuban-specialist investment company, received its first import contract under the joint venture, struck last November, worth around $30,000.
Leni Oil and Gas has invested £730,000 in a Cuban oil operator.
Cuba plans to drill exploratory deepwater wells in the Gulf of Mexico by the end of 2016 or beginning of 2017 despite current low oil prices, officials from the state oil monopoly said.
A new era for US-Cuba relations creates opportunities for Scottish businesses in the Caribbean, former energy minister Brian Wilson says. After half a century of Cold War acrimony, the US and Cuba are trying to restore diplomatic links in a historic shift that could revitalise the flow of money and people across the narrow waters that separate the two nations. It could mean an end to the US trade embargo which has stifled investment and hampered business in Cuba for more than 50 years.