200,000-barrel-per-day facility to reduce imports, boost exports
Mozambique’s state-owned Petromoc has signed a memorandum of understanding with integrated energy company Aiteo Eastern Exploration and Production Company to conduct a feasibility study for the country’s first-ever oil refinery.
Announced by President Daniel Chapo in Maputo this week, the modular refinery will boast an impressive capacity of 200,000 barrels of fuel per day, producing gasoline, diesel, naphtha, and jet fuel for both domestic use and export to neighboring countries.
“This is a transformative project that will position Mozambique as a relevant actor in the liquid fuels value chain. It will positively impact job creation, especially for our youth, increase GDP, reduce fuel imports and boost exports, thereby contributing to the balance of payments of the Republic of Mozambique,” President Chapo stated.
Construction of the refinery is expected to move quickly, with completion anticipated within just two years.
Source: energycapitalpower.com
