fbpx

Angola: New Refinery to be Built in Soyo

The Quantem consortium, which comprises American companies TGT, Quantem, Aurum & Sharp and the Angolan company Atis-Nebest will invest $3.5 million-dollars to build Angola’s third largest oil refinery in Soyo by 2024. Once completed, the refinery is expected to process 100,000 oil barrels per day (bpd).

The investment is a direct result of the established strategic partnership with the United States government, which has played an influential role on eradicating corruption, money laundering, malaria, HIV/AIDS and the COVID-19 pandemic through acceleration of vaccine programs in partnership with U.S. brands.

Angola’s Head of State H.E. Joao Lourenço confirmed the construction of the 100,000-bpd oil refinery during the Annual Gala of the International Foundation for the Conservation of the Environment in Luanda.

U.S. investors are also partnering with EximBank for the development other projects in country, from mobile operators to Angola’s largest solar project, and expanding across other industrial sectors that accelerate economic growth.

Energy Capital & Power will produce an Africa Energy Series: Angola 2022 special report and documentary with a new look and multimedia components, during a critical moment in the country’s energy sector development. The documentary will be advertised and aired on local TV and international news outlets, including CNBC Africa, and on Energy Capital & Power’s digital platforms. For editorial enquiries regarding the Africa Energy Series report and documentary, please contact editorial@energycapitalpower.com.

Share This Article

Share on twitter
Share on facebook
Share on linkedin
Share on reddit
Share on whatsapp
Share on email
Zenildo dos Santos

Zenildo dos Santos

Zenildo dos Santos is a Field Editor at Energy Capital & Power. Prior to this, he was the Head of Communications for General Electric in Angola. In this role, he led communications projects and initiatives for all GE business units in-country (oil and gas, power, transportation, and healthcare). He is a Heriot-Watt. University graduate and an active #Bravuz volunteer.

Subscribe to our newsletter

Sign up for latest news and event info

Copyright © 2021 Energy Capital & Power. Privacy Policy · Terms of Use