The Lobito refinery, currently under construction in Benguela Province, is set to become one of Africa’s largest oil processing refineries, with a projected capacity of 200,000 barrels per day.
Once completed, the facility will refine crude oil for both international and domestic export, including exports to Zambia and the Democratic Republic of Congo.
Zambia becomes a shareholder alongside Angola’s state oil company Sonangol, which holds a 30% stake, while the remaining shares are allocated to other regional and private investors.
As part of the agreement, Angola will supply Zambia with refined petroleum products.
Plans are underway to build a pipeline from Angola to Zambia, enabling the direct transport of refined petroleum products to Zambia.
“This is a strategic move to end our historic dependence on distant and costly fuel sources,” said Zambian President Hakainde Hichilema.
Source: Líder Magazine
