Sonangol has announced that it has postponed construction works at the Lobito Refinery and the Ocean Terminal at Barra do Dande in order to reexamine the project.

According to the company, these projects are of great importance to the country but the suspension is necessary because of the problem facing Angola’s oil sector, which needs a full assessment of its development, phasing and financing.

The Lobito Refinery when started will cover an area of 3,805 hectares. The project is expected to be completed in 2018, with an estimated cost of $5.6 billion.

The refinery is intended to process 200,000 barrels of oil per day and produce other fuels like gasoline, diesel, jet fuel and other products.

Located 150 metres above the sea level on the north-south axis, the project will allow the supply of oil derivatives to all provinces of Angola and neighboring countries.

Meanwhile, in February 2015 Sonangol announced that the Barra do Dande Ocean will be completed that same year, with an estimated cost of $1 billion, but later reported extended the scheduled time of completion to 2017, Macauhub reports.

Anita Fatunji