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).
Does Angola have crude oil?
Angola has crude oil but is not processing it, Jooste told DW. "The whole idea [of the new refinery] is to make Angola less dependent on importing refined products." Angola, Africa’s second-biggest crude oil producer, pumps out some 1.1 million barrels of oil a day.
How much oil does Angola produce a day?
Angola, Africa’s second-biggest crude oil producer, pumps out some 1.1 million barrels of oil a day. But the southern African nation on the Atlantic coast currently has only has one operational refinery, located near the capital Luanda.
Will Sonangol EP operate the upcoming Soyo refinery?
Sonangol EP will operate the upcoming Soyo refinery, proposed to be built at Zaire in Angola. The non integrated refinery will be owned by Sonangol EP and is expected to start operations in 2025. During the period 2021-2025, the Soyo refinery is expected to witness an estimated capex of $3,185m.