The Cabinda Refinery plans to start phase one operations in 2025, with a capacity of 30,000 barrels per day (bpd). Developed by investment company Gemcorp, the refinery will be the country’s second operational refining facility once completed. As the facility prepares to start production, Cabinda Refinery has joined the Angola Oil&Gas (AOG) conference – taking place September 3-4 in Luanda – as a Bronze Sponsor.
AOG 2025 represents the premier platform for the country’s oil and gas industry and Cabinda Refinery’s sponsorship reflects its broader commitment to enhancing Angolan crude processing and distribution. The Cabinda Refinery seeks to reduce Angolan fuel imports by increasing domestic refining capacity, with a goal to achieve 445,000 bpd in the coming years. With the start of operations at the Cabinda Refinery, the country will achieve 22% of this goal by the end of 2025. Cabinda Refinery’s sponsorship at AOG 2025 will support discussions around Angola’s downstream project pipeline.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
The first phase of the Cabinda Refinery – at a cost of $473 million – will produce naphtha, jet fuel, diesel and heavy fuel oil, with the Naphtha and heavy fuel oil destined for exports. This first phase will supply approximately 10% of the country’s domestic fuel demand, with a planned second phase set to double capacity to 60,000 bpd. Engineering works for the second phase will commence once the first phase is operational. The first phase of the refinery was backed by funding provided by multilateral finance institutions Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank), with financial close reached in 2023. Additional financing was provided by the Fund for Export Development in Africa – the impact investment subsidiary of the Afreximbank. Of the total $473 million investment, $138 million represented equity from project sponsors while the remaining $335 million was mobilized through the AFC-led facility.
As the largest event of its kind in the country, AOG 2025 will connect global investors and project developers with Angolan opportunities. Cabinda Refinery’s sponsorship will not only open doors to discussions on financing downstream projects, but unlock new opportunities for financing by international institutions. With two additional refining facilities – namely, the 200,000 bpd Lobito Refinery and 150,000 bpd Soyo Refinery – seeking capital, AOG 2025 will facilitate engagement and deal-signing among industry stakeholders.
Distributed by APO Group on behalf of Energy Capital&Power.