Angola has launched operations at its long-awaited Cabinda refinery, the country’s first new plant since independence in 1975, marking a major step toward energy independence and a shift in Africa’s refining landscape.…….CONTINUE FULL READING>>>>>
The $500 million facility, located in the oil-rich Cabinda province, is set to begin production before the end of 2025 with an initial capacity of 30,000 barrels per day. This makes it Angola’s second refinery, aimed at slashing reliance on imported petroleum products and easing the fiscal burden of fuel subsidies.
Inauguration and Ownership
The project was officially inaugurated with President João Lourenço in attendance. Oil and Gas Minister Diamantino Azevedo hailed the development as historic, saying:
> “By the end of the year, Angola will have the first commercial derivatives produced at this unit.”
The Cabinda refinery is majority-owned by London-based investment firm Gemcorp, while Angola’s state-owned Sonangol holds a 10% stake and will supply crude feedstock for refining.
Regional Implications
The refinery’s commencement comes at a time when Africa’s refining capacity is under the spotlight, with Nigeria’s Dangote Refinery dominating regional headlines. Analysts say Angola’s entry into large-scale refining could provide competition in West and Central Africa’s petroleum markets, where import dependence has long strained economies.
The government expects the project to boost local job creation, reduce fuel costs, and position Angola as a potential exporter of refined products in the future.…….CONTINUE FULL READING>>>>>
