Botswana has not requested stake in Lobito refinery, Angola’s Sonangol says

Wednesday 15 - 11:30

Angola’s state-owned oil company Sonangol has stated that it has not received any formal request from Botswana regarding participation in the planned Lobito refinery project.

The proposed refinery, one of Angola’s largest infrastructure investments, is valued at around $6.6 billion and is designed to process up to 200,000 barrels of oil per day. The project aims to reduce the country’s dependence on imported refined fuels and strengthen its position in the regional energy market.

According to Sonangol executives, while Angola continues to seek international and regional partners to help finance the project, no official communication has been made by Botswana regarding a potential equity stake. The company expressed surprise at recent media reports suggesting otherwise.

The Lobito refinery has faced delays due to financing challenges, prompting Angola to explore new investment partnerships. Some regional governments have shown interest in participating, reflecting growing cooperation in Africa’s energy and infrastructure sectors.

Sonangol also noted that other countries in the region have previously expressed interest in joining the project, highlighting broader competition for involvement in strategic energy assets across Southern Africa.

Despite ongoing discussions in the media, Sonangol insists that project negotiations remain at a formal and structured stage, with no confirmed equity commitments from Botswana at this time.

The development underscores the complexity of large-scale energy projects in Africa, where financing, regional diplomacy, and long-term energy strategies are closely intertwined.