Angola and Senegal invest in new refineries

Jun 18, 2009 02:00 AM

Senegal and Angola have commissioned new oil refining projects to increase petroleum capacity and tap into regional demand.
Angola, which imports 70 % of its gasoline needs from the US, is to build a $ 8 bn, 200,000 bpd facility near the port of Lobito. The plant is due for commissioning by the end of 2013. About 90 % of the refinery's output will be sold domestically and in neighbouring countries with the remainder exported to other regions.

Oil is Angola's lifeblood, accounting for 95 % of its export revenues and 40 % of GDP. In September last year Angola overtook Nigeria to become Africa's largest and the world's eighth-largest oil producer. Its reserves are estimated at around 20 bn barrels.
Senegal, meanwhile, has entered into an agreement with Iran's national oil refining company to increase the capacity of its petroleum processing facility from 25,000 bpd to 64,000. A further Iranian-built refinery and petrochemical complex in Senegal is on the cards.

Source / African Business
Market Research

The International Affairs Institute (IAI) and OCP Policy Center recently launched a new book: The Future of Natural Gas. Markets and Geopolitics.

Cover_242-width

The book is an in-depth analysis of some of the fastest moving gas markets, attempting to define the trends of a resource that will have a decisive role in shaping the global economy and modelling the geopolitical dynamics in the next decades.

Some of the top scholars in the energy sector have contributed to this volume such as Gonzalo Escribano, Director Energy and Climate Change Programme, Elcano Royal Institute, Madrid, Coby van der Linde, Director Clingendael International Energy Programme, The Hague and Houda Ben Jannet Allal, General Director Observatoire Méditerranéen de l’Energie (OME), Paris.

For only €32.50 you have your own copy of The Future of Natural Gas. Markets and Geopolitics. Click here to order now!


 

Upcoming Conferences