VFuels reported that plant was making progress last week. The project is “ready for pipe insulation and final testing before nitrogen preservation”, the US company said.
VFuels is making progress with its Cabinda refinery work at facilities in Houston, with equipment passing its factory acceptance testing (FAT).
Angola has awarded a build, own and operate (BOO) contract for the Soyo refinery to a consortium led by US company Quanten.
As with the global industry, African exploration and production plans hit the COVID-19 and oil price-crash roadblock.
Gemcorp has taken a final investment decision (FID) on the 60,000 barrel per day Cabinda refinery, which will be built in the Angolan exclave.
Sonangol posted net income of $125 million for 2019, while EBITDA reached $4.78 billion up 10% year on year.
Angola intends to privatise 30% in state-owned Sonangol, in a bid to raise money and increase the company’s competitive edge.
The Agência Nacional de Petróleo, Gás e Biocombustíveis (ANPG) has signed two deals with BP, on the sidelines of the UK-Africa Investment Summit in London.