Sonangol has launched a tender process for the Lobito refinery, which may have capacity of up to 200,000 barrels per day.
Angolan Minister of Mineral Resources and Petroleum Diamantino Azevedo set out the offering in a presentation today.
Angola imports 80% of its fuel needs, Azevedo noted. This takes its toll given the country’s exchange rate fluctuations and international markets.
As such, the state has set out to change this, under its National Development Plan 2018-22. The programme sets the stage for construction of a plant with up to 200,000 bpd of capacity, he said.
The Lobito plant has a “special significance” for Angola, he said. In addition to the economic benefits of processing its own oil, the project will also create up to 8,000 jobs during construction, Azevedo said.
Interested parties are invited to participate in financing the refinery and involvement in construction.
Angola has created a number of tax incentives, Azevedo continued, to support investments in the project ensure the economic viability of the project.
The ministry guarantees “full support and attention”, he said, given the strategic importance of the refinery project.
Angolan officials have talked of the Lobito refinery as providing products for the Angola-Zambia pipeline.
News agency Angop, reporting a visit by Africa Finance Corp. (AFC) officials to Angola this week, noted the investor’s potential interest. AFC deputy director Ini Urua expressed interest in the Lobito refinery, the Barra do Dande terminal and the Soyo refinery.