[2022-05-19] Sinopec says that Africa and Angola have great opportunity to invest in energy transition

Source: Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao)

At the opening ceremony of the 8th edition of the African Petroleum Congress and Exhibition (CAPE) on Monday in Luanda, Angola’s Vice-President of Chinese oil company Sinopec, Paulo Pizarro, said that Africa and Angola have great opportunities for energy transition and they should overcome political barriers to seek to create a sustainable industry.

In the upstream sector (extraction and production of fuel), Sinopec, which has invested over US$20 billion in Angola, serves as a non-operating shareholder of several oil projects in Angola. According to Paulo Pizarro, Sinopec is investing in Angola because it believes in Angola.

The CAPE, organized by the APPO, with the support of the Angolan Government and practitioners in the sector, is held until Thursday in Luanda, the capital of Angola.