Angola’s Refining Revolution: $4.8 Billion Push Toward 445,000 BPD Capacity Target
Angola is making headlines with an aggressive downstream expansion strategy that could transform sub-Saharan Africa’s second-largest oil producer into a regional refining powerhouse. Dr. Luis Fernandes, Director General of the Petroleum Derivatives Regulatory Institute, announced the country’s ambitious drive to achieve 445,000 barrels per day in refining capacity, with multiple major projects moving toward completion.
The country expects to achieve 22% of its refining capacity goal by the end of 2025, with the first phase of the Cabinda oil refinery set to come online, adding 30,000 bpd to the market. The game-changing Lobito refinery, requiring $4.8 billion in financing, will become Angola’s largest facility with 200,000 bpd capacity when it launches in 2027.
Additional projects include a planned 150,000 bpd refinery in Soyo led by Quanten Consortium, demonstrating Angola’s commitment to enhancing domestic fuel security and reducing refined product imports. The comprehensive strategy also includes expanding LPG distribution, with a 31% increase in demand anticipated by 2027, supported by new storage facilities and increased production capacity.
Source: energycapitalpower.com