Angola Seeks Gabon’s Investment in $200,000-Barrel-Per-Day Lobito Refinery to Boost Regional Fuel Supply
Angola has invited Gabon to participate as an investor in the Lobito Refinery project, currently under construction and fully financed by the state oil company Sonangol.
The invitation was extended by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, during a visit by Gabonese President Brice Clotaire Oligui Nguema to the Luanda Refinery on the second day of his two-day state visit to Angola.
“It would be an honor for us to have the participation of the Republic of Gabon in this strategic regional project,” said Diamantino Azevedo.
He noted that the Lobito Refinery, with a planned processing capacity of 200,000 barrels per day, is expected to serve not only Angola but also several countries across Sub-Saharan Africa.
During meetings held the previous day, President Oligui Nguema expressed Gabon’s interest in learning from Angola’s experience in managing partnerships with international oil companies and in improving the repatriation of revenues generated from hydrocarbon production.
Although Angola remains one of Africa’s leading oil producers, the country still imports nearly 70 percent of its refined fuel products.
The government aims to reduce this dependency through the development of three major refinery projects: the Cabinda refinery with a capacity of 60,000 barrels per day, the Soyo refinery with 100,000 barrels per day, and the Lobito refinery, projected to process 200,000 barrels per day.
According to the minister, once the three refineries become fully operational, Angola is expected to achieve self-sufficiency in refined petroleum products and strengthen its position as a regional exporter of fuel derivatives.
Diamantino Azevedo also highlighted that declining crude oil production remains one of the country’s main challenges.
In response, Angola has launched several licensing rounds for new oil exploration blocks.
Over recent years, 72 oil blocks have been awarded, with 42 already undersigned contracts.
The minister further announced the construction of an ammonia and urea production plant, scheduled to begin operations in 2027.
The project is being developed in Sumbe alongside a Sonangol Research and Development Center dedicated to oil, gas, biofuels, renewable energy, and critical minerals.
He also invited Gabonese officials from the oil and mining sectors to attend the 7th Oil and Gas Conference and Exhibition, scheduled to take place in Luanda on September 9 and 10 this year.
