Luanda: Botswana President Duma Gideon Boko on Wednesday received a briefing in Benguela on the construction phases of the Lobito Oil Refinery in Angola and the opportunities it could offer to regional and international markets.
According to Angola Press News Agency, President Boko was visibly impressed by the oil infrastructure, in which Botswana has expressed interest in becoming a shareholder. He observed the scale of the refinery based on information previously received from his country's Minister of Minerals and Energy, Bogolo Kenewendo, who visited the facility on 28 April 2026.
During his visit to Lobito, President Boko and his delegation were accompanied by Angola's Minister of External Relations, T©te Ant³nio, Minister of Mineral Resources, Petroleum and Gas, Diamantino de Azevedo, Benguela Governor Manuel Nunes Jºnior, and Sonangol Board Chairman Sebastio Martins.
On the occasion, the Sonangol chairman confirmed that, in addition to Botswana, other entities are interested in investing in the Lobito Refinery, including Angola's Sovereign Wealth Fund, Angolan and Chinese banks, among others. "All financial institutions wishing to join us will be welcome," he said.
Regarding the ongoing works, Martins stated that physical completion has reached 26% and that Sonangol has so far invested USD 1.6 billion in the project. The head of the Angolan state oil company further noted that, after 2029, when all the facilities are expected to be completed, the company plans to establish a petrochemical complex in the refinery area.
According to Sebastio Martins, once the refining process is fully operational, in addition to supplying products required by Angola and the region, the project will also enable the manufacture of a range of downstream products. The Lobito Refinery, also known as Sonaref, occupies an area of 3,800 hectares, comprising the administrative complex, terraces, a marine terminal, the water supply system, and access roads.
The refinery will have the capacity to process 200,000 barrels of oil per day. The products to be refined include diesel, petrol, Jet A-1, and fuel oil, in addition to the production of bitumen and sulphur, which serve as raw materials for other industrial activities.
