[2024-03-28] Sonangol receives capital guarantees for Lobito

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

Sonangol has received expressions of interest from Chinese investors and financial institutions in favor of the Lobito Refinery, whose construction received a new boost in October 2020, when the national oil company signed a contract with CNCEC, a contractor from that country, for the completion of the work in 2027.

The revelation of the expressions of interest was made by the chairman of Sonangol’s Board of Directors, Sebastião Gaspar Martins, who was in China during the state visit of the President of the Republic, João Lourenço, to that country from the 15th to the 17th of this month.

The Chairman of the Board of Directors also highlighted Sonangol’s interest in China’s high potential in the field of renewable energies, especially in terms of solar panel production capacity, in light of the company’s decision to transform itself into a national energy company, abandoning the concept of a national oil company.