The construction works of the Lobito refinery, in the coastal Benguela Province, designed to process 200,000 barrels of crude oil per day, will be completed between 2025 and 2026, said today the project coordinator, Guimário Correia.
The project is valued at US $6 billion and within five months it will be submitted to a tender, to determine the construction company for the project.
In an interview with the state-owned National Radio of Angola (RNA), the coordinator said that after the public oil company Sonangol will be tasked with conducting negotiations and arrangements with the public tender’s winning company, within a time frame of up to three months.
Guimário Correia said that potential investors can participate in the contest individually or in consortium with other companies/persons, as long as they demonstrate legal status, financial and technical capacity and perfect reputation.
Also read: Lobito Refinery promises transformation for Angola
Diagnosis and Strategies
Currently, the country depends almost entirely on imports of refined products, mainly petrol and diesel.
In order to eliminate such dependence, the Angolan government defined a strategy that allows national and foreign groups to invest in the oil refining industry for the construction of new refineries.
Angola, despite being an oil-producing country, currently has only one refinery, the one in Luanda, and imports oil by-products.
The Luanda refinery supplies only 20% of the country’s fuel needs.
