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.
Could a new refinery change Angola’s oil industry?
Angola is rich in crude oil but has to import the fuel it needs. A new refinery could change that. Wearing a hard hat, safety glasses and high-visibility vest, project manager Martin Jooste gives a tour of the rain-sodden construction site that he oversees in the tiny Angolan exclave of Cabinda.
What is the Cabinda refinery?
The Cabinda refinery is a joint venture between the UK-based asset management company Gemcorp and Angola’s national oil company, Sonangol. It’s hoped that it will deliver around 10% of Angola’s domestic demand for refined oil products, such as diesel and jet fuel, with plans to increase the capacity in further phases.
How will Luanda refinery improve energy independence?
Once completed, the country will significantly reduce its fuel import costs and accelerate its efforts to energy independence. Status: As the only operating refinery in the country, the Luanda refinery meets only 20 percent of the market’s needs.