Angola has signalled its readiness to significantly ramp up crude oil supplies to South Korea, positioning itself as a reliable alternative supplier as Seoul intensifies efforts to reduce its exposure to Middle East energy routes.
Angolan Ambassador to South Korea Sianga Kivuila Samuel Abilio made the offer in an interview with Yonhap News Agency in Seoul, stating that Angola could redirect spot cargoes specifically to Korean refineries to meet immediate needs. “Instead of selling them to different companies, we can direct sales specifically to Korea to satisfy your needs,” Abilio said, noting that his country could act as a complementary supplier given limitations related to committed production, export capacity and logistics.
Angola and Seoul’s foreign ministry have discussed the matter, and South Korea is expected to facilitate connections between Korean firms and Sonangol, Angola’s state oil company. The ambassador said spot market engagement could evolve into a long-term supply relationship as Angola continues exploration activities.
The ambassador also highlighted opportunities beyond oil. Angola holds significant reserves of critical minerals, including lithium and rare earth elements, and is ramping up investment in the sector to diversify its economy beyond oil and diamonds. He called for active participation by South Korean companies in the Lobito Corridor project, a major railway and logistics network linking Angola’s Atlantic port of Lobito with mineral-rich areas of the Democratic Republic of the Congo and Zambia.
“The corridor is fundamentally about copper and cobalt, which are essential for EV batteries, electronics and renewable energy systems. Korean companies, especially battery supply chain players, could secure long-term mineral offtake agreements and refining partnerships,” Abilio said. He also urged South Korea to reduce tariff and trade barriers on African products, calling for technology transfer and greater investment in strategic sectors.
South Korea and Angola established diplomatic relations in 1992, and the two countries have built cooperation around their complementary strengths in resources and technology.
Source: nation.com.pk | Yonhap News Agency