Status: In August last year, the Ministry of Mineral Resources and Petroleum launched an international public tender for the construction of a privately-owned oil refinery in Soyo. With current production meeting less than one-third of domestic oil consumption, Angola’s refining capacity remains severely underserved.
Will Angola build a third largest oil refinery in Soyo by 2024?
The Quantem consortium, which comprises American companies TGT, Quantem, Aurum & Sharp and the Angolan company Atis-Nebest will invest $3.5 million-dollars to build Angola’s third largest oil refinery in Soyo by 2024. Once completed, the refinery is expected to process 100,000 oil barrels per day (bpd).
When will Angola’s new 60,000 barrel a day refinery start producing maiden products?
Our Standards: The Thomson Reuters Trust Principles. The first phase of Angola’s new 60,000 barrel a day Cabinda refinery is seen producing its maiden products mid-2024, as the Ukraine war and global increase in refining projects hits costs and procurement, the plant’s chief executive said on Tuesday.
Is Angola undergoing a major transformation in its energy sector?
Angola, one of Africa’s top oil and gas producers, is undergoing a major transformation in its energy sector. The country pumps out some 1.1 million barrels of oil a day but maturing fields mean that production is stagnating and more exploration needs to be done.