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.