Parties interested in taking part in Angola’s Lobito refinery tender process will be able to submit investment proposals for a stake on a 150-hectare project over the next four months. Investment proposals for the 200,000-bpd refinery can now be submitted through a sealed envelope directed to the Sonangol administration, accompanied by a detailed technical and financial history on recent energy investments.
According to Angola’s Minister of Mineral Resources, Petroleum and Gas, H.E. Diamantino Azevedo, the international public tender is part of the national development plan to revolutionize the country’s energy portfolio. Angola is open for foreign direct investment opportunities within the oil and gas industry, focusing on processing raw materials for domestic and regional distribution.
In 2019, Angola spent 1.7 billion dollars to import three million metric tons of fuel. The government is creating solid synergies with the private sector with more investment opportunities to diversify the energy portfolio, create jobs, and reduce import costs. The Lobito refinery is expected to bring a substantial economic boost to the Benguela region and will add significant value to Angola´s economic and social development efforts.