05-02-09 Mozambique's OilMoz plans to build an $ 8 bn oil refinery in the south of Maputo, designed to reduce dependency on imported fuel, the company said. The company expects to start production by 2014.
OilMoz Chief Executive Fausto Cruz said the refinery, with an estimated capacity of 350,000 bpd, is expected to benefit both Mozambique and countries in the region which rely on imports of refined fuel. The company has identified five potential refinery sites and will decide on one in due course.

Cruz said OilMoz will partner with Shell Global Solutions International, a unit of Royal Dutch Shell for the study and design of the project. Mozambique's only oil refinery closed 24 years ago, leaving the country dependent on imports.
OilMoz's shareholders include former Mozambican foreign affairs minister Leonardo Simao. Others local partners in the project include the Joaquim Chissano Foundation, PricewaterhouseCoopers and Mozambique's national oil company, Petromoc.

The project is expected to employ 15,000 people in the construction phase, and 2,000 once it is at full capacity.