Equatorial Guinea has signed a Memorandum of Understanding (MoU) with Chinese engineering services firm Shanghai Supezet for the construction of a new oil refinery in the country.
The agreement was signed on May 2 by Vice President Nguema Obiang Mangue and Zhang Jinhong, President of Shanghai Supezet.
The MoU paves the way for the establishment of a joint venture to oversee the refinery’s development.
Once operational, the refinery will process crude oil for domestic consumption, supporting Equatorial Guinea’s efforts to enhance energy security and reduce reliance on imported fuels.
The signing took place during a state visit to China, where Vice President Mangue also held discussions on expanding cooperation in natural gas processing and green hydrogen development.
The Equatorial Guinean delegation included senior representatives from the Ministries of Foreign Affairs and International Cooperation; Mines and Hydrocarbons; Finance, Economy and Planning; and Treasury and State Heritage, as well as executives from state-owned energy companies GEPetrol, Sonagas, and SOR.
