State oil companies Sonangol, of Angola, and PetroSA, of South Africa, study joint construction and management of refineries

14 October 2010

Luanda, Angola, 14 Oct – Angolan state oil company and South african state oil company PetroSA are studying the creation of a partnership for construction and management of oil refineries, the Oil Ministry said in Luanda.

In a statement, the Ministry said that representatives of the two countries had met in Luanda over five days to discuss mechanisms of cooperation in the oil industry.

“The sides are analysing the possibility of creating a partnership between Sociedade Nacional de Petróleos de Angola and Petroleum, Oil & Gas Corporation of South Africa to build and manage refineries and finished oil products,” the statement said.

According to the South African Oil Industry Association, for the last three years PetroSA has been analysing construction of a refinery to process 400,000 barrels of oil per day, in an estimated investment of US$9 billion.

Angola is the second-largest oil producer in sub-Saharan Africa, after Nigeria, and the oil refinery planned for the city of Lobito will have a processing capacity of 200,000 barrels of oil per day, whilst the only existing refinery in Angola processes 41,000 barrels per day. (macauhub)