Sonangol, PetroSA eye oil joint venture
Angolan state-owned
oil firm Sonangol and South Africa’s PetroSA Ltd. are considering
setting up a joint-venture to build and manage refineries, Angola’s oil
ministry said in a statement.
The announcement
was made after a South African delegation, led by energy minister,
Dipuo Peters, met with Angola’s oil minister, Jose Botelho de
Vasconcelos, in Luanda earlier this week, Angola’s oil ministry said.
“Both parties are
considering the possibility of creating a joint venture between
Sonangol and PetroSA for the construction and management of refineries
and terminals of petroleum products,” the oil ministry said.
Angola is Africa’s
biggest oil producer, but its sole 37,500 barrels per day plant covers
only 30 percent of domestic needs. A new $8 billion refinery in the
port city of Lobito is expected to be ready by 2014.
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