Updated
Updated · Bloomberg · May 7
Cabinda oil refinery starts fuel shipments
Updated
Updated · Bloomberg · May 7

Cabinda oil refinery starts fuel shipments

14 articles · Updated · Bloomberg · May 7
  • The more than $470 million Angolan plant is supplying diesel at home while exporting heavy fuel oil and naphtha, executives at Gemcorp Capital, which owns 90%, said.
  • The start-up gives Angola new refining capacity to support domestic fuel availability and cut dependence on imported products despite being a major crude producer.
  • The Cabinda facility is among the first refineries built in Africa in decades, marking a notable expansion of the continent's downstream oil infrastructure.
Will Angola's new refinery lower fuel costs for citizens or primarily profit foreign investors?
As it boosts refining and mineral exports, is Angola becoming a key strategic asset for the West?