Angola’s Oil Firm Sonangol and China National Chemical Engineering (CNCEC) last week in Beijing, China, signed a memorandum of understanding providing for construction of Lobito Refinery in Angola’s coastal Benguela province, ANGOP has learnt.
Sonangol’s CEO , Gaspar Martins, signed the document, in the presence of minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, and other officials of the sector.
In its publication, the Ministry of Mineral Resources, Oil and Gas, states that the event is part of the responsibility for implementing and seeking financing for the Lobito Refinery project.
The conclusion of Lobito Refinery, with a capacity to process 200, 000 barrels/day of oil, is set for 2026.
The infrastructure will supply the domestic market and the countries of the SADC region.
In addition to Lobito Refinery, Sonangol also has other refining projects under way, aimed to increase the country’s refining capacity from 65,000 barrels/day (kbbs/d) to 425 k bbs/d.
The Cabinda refinery, with a capacity for 60,000 kbbs/d, will enter the first phase of completion this year.
The infrastructure is expected to supply the local and regional market, including neighbouring countries such as Republic of the Congo and the Democratic Republic of Congo (DRC).
The second phase of this project ends in 2025.
In this project, Sonangol holds 10% and GEMCORP 90% in terms of corporate structure.
In Soyo, Zaire province, Sonangol also holds 10% in the corporate structure, while Quanten retains 90%.
Luanda refinery is currently fully operational, with a platforming 1,200 metric tons per day of refined products from the previous 370 metric tons, a production that contributes to reducing imports.