Angola's Cabinda Refinery Commences Production, Poses Competition for Dangote

Angola's Cabinda refinery has started fuel production, posing new competition for Dangote. The refinery, the first since independence, aims to reduce Angola's fuel import dependence.

With an initial capacity of 500,000 barrels per day, it will serve as the country's second refinery. The investment firm Gemcorp and oil company Sonangol are involved in the project.

Currently, Angola imports 72% of its fuel needs, totaling roughly 5 million metric tons annually. The rising costs and delays due to the pandemic have pushed the investment in the refinery to over $550 million.

The government is also reviewing the proposed Soyo refinery project.