Angola has formally invited Gabon to become an equity investor in the Lobito Refinery project — a 200,000-barrel-per-day facility currently under construction and entirely financed by state oil company Sonangol — in a move that would transform the plant from a national downstream asset into a regional energy powerhouse.
The invitation was extended by Angola’s Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, during a tour of the Luanda Refinery with Gabonese President Brice Clotaire Oligui Nguema on the second day of a 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,” Azevedo said, highlighting that once operational, the Lobito Refinery is expected to serve not only Angola but multiple countries across Sub-Saharan Africa.
Gabon’s President expressed his country’s interest in learning from Angola’s experience in structuring partnerships with international oil companies and in improving the repatriation of revenues from hydrocarbon production — signalling that the discussions are likely to advance to the level of formal investment talks.
Closing a Glaring Dependency Gap
Angola’s push to build out domestic refining capacity responds to a stark structural reality: despite being one of Africa’s largest crude oil producers, the country currently imports nearly 70% of its refined petroleum products. The government has set an ambitious target to reverse that dependency through three major refining projects. The Cabinda refinery, with a planned capacity of 60,000 barrels per day, is already in operation. The Soyo refinery, designed for 100,000 barrels per day, is under development. The Lobito refinery, at 200,000 barrels per day, is the largest of the three. Together, once fully operational, the three facilities are expected to give Angola self-sufficiency in refined fuels and position the country as a net exporter of petroleum products to regional markets.
Angola has also awarded 72 oil exploration blocks in recent licensing rounds to shore up its upstream base, with 42 already under signed contracts. Azevedo separately announced construction of an ammonia and urea production plant, scheduled to begin operations in 2027, alongside a Sonangol Research and Development Centre focused on oil, gas, biofuels, renewable energy, and critical minerals — both being developed in Sumbe.
For Gabon, participation in the Lobito Refinery would offer downstream integration in a proven oil-producing nation at a time when the Libreville government is seeking to deepen its own energy sector investments and regional economic ties. No financial terms of a potential participation have been disclosed.
Source: angolanminingoilandgas.com