Africa Angola Commodities Development Economy FDI Oil

Angolan government receives proposals for construction of refineries

Angola’s Media Minister said the government had received almost “20 proposals for the construction of refineries and investments in the petrochemical industry,” in a period of two months, according to Angolan newspaper Novo Jornal.

Minister João  Melo, after posting the “excellent news” of the new investments by Frenchgroup Total in the country, added there are promising signs for the petrochemical industry in Angola, as “almost 20 proposals”had been made by “senior foreign representatives interested in making other investments.”

At the end of November, the new chairman of the Board of Directors of state oil company Sonangol, Carlos Saturnino announced in Pretoria that by next March the company intends to select an international partner to build a new refinery and reduce imports of refined products.

“In the first quarter of 2018 [the company will] select and make the decision, about the construction of a large refinery,” he said, quoted by the Angolan press.

Sonangol continues to operate the Luanda refinery, which was inaugurated in May 1958 and has a nominal installed capacity of 65,000 barrels per day and produces just 20% of the fuels consumed by Angola.

Source: Macauhub

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