Friday, March 29, 2024

Zambia seeks stake in Angola oil refinery project

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The Zambian government says it has lobbied neighboring Angola to re-open the opportunity for the country to own a state in Angola’s oil refinery project.

Energy Minister Peter Kapala said Zambia wanted to have a stake in Angola’s Lobito Refinery Project which will have a capacity of 200,000 barrels per day.

He said the two countries last week signed an agreement to actualize the partnership.

“This opportunity will guarantee Zambia consistent access to the supply of petroleum on a preferential basis,” he said in a statement posted on his Facebook page.

According to Mr. Kapala, the diplomatic engagements and diversified partnerships in the energy sector, especially within the region, will lead to a high degree of redundancy and cheaper energy.

This, he said, will result in cheaper energy in the county in the medium to long term.

He further said the government was monitoring reports on the discovery of oil in neighboring Namibia as part of efforts to synergy with other countries in the energy sector.

Mr. Kapala said he will be speaking at the 4th edition of the Namibia International Energy Conference to be held this week.

He said the conference, which will bring together stakeholders in the energy sector, will serve as a catalyst for crucial conversations shaping the future of energy in Africa.

13 COMMENTS

  1. @ Nigga Nature: Talking as if you make semse” u leave indeni & go & fund a project in Angola”. Iwe Katondo street bucket oil seller does Indeni manufacture oil?

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  2. My worry is that with the policies of this new dawn administration-Knowing them very well,they will start colonising our neighbours economically.Not in a bad way but they will start buying assets in those countries,like the minister has said”we are eying the new discovered oil in Namibia”. If they do this well ,Zambia will become a super power on the continent economically-not too big but very very well run and managed. There is very few African countries that are investing in another African country(the ones doing it like South Africa-they use private companies & all profits go into hands of these private citizens).But if one country does it on a Gvnmnt to Gvnmnt,it is a blaster,that country will command alot of respect and prosperity.

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  3. But we just closed our own refinery?. The deals should be “to importing crude oil”. Or buying stakes in an oil drilling company.
    We are heading nowhere with such mentality. Soon you will close down Nchanga smelter to go and lobby for shares in a copper smeltering company in SA.
    All finished product will have separate taxation immediately they intend to cross Angolan border.
    Other than tax. You’re creating more employment opportunities for youths only in Angola. While neglecting your own here.

  4. If this topic was about bulsh!t stuff like arrest of Lusambo or confiscated PF vehicles, you will see many 100s of commenting.

    Here you are, something that is progressive……..people won’t read, wont take a position, and if they somehow peruse through, its only to provide their negative and counterproductive comments. That is what many are good at here !

    Come on people, I guess this is a good opportunity for future. Possibly leading to re-openning of Indeni. Any way….

  5. Personally I don’t comment on items or subjects that I don’t fully understand. It’s better to read the comments so that you may learn something.

  6. @:Bo Nyambe: Stay here for another 10years without citizens themselves engaging in deriving these samples & present them to GRZ, 10yrs from now you ll still be here and wishing “but we have oil in Western Province”. Understand the procedure involved in the oil industry before talking pls. Do you as a country even own a binoculas to see that oil in the ground? If no,then what are you going to use to dig for that oil? Your fingers Nyambe?

  7. Let me educate you more, Angola,South Africa, Libya, Nigeria even Ghana they own their own Oil rigs(machinery),testers,surveying equip, drilliers, refiners and human power etc. So if any of these countries discovers oil in there countries,they straight away start working on the oil blocks–they ve capacity they ve machinery,they ve labour. In Zambia yourself have you ever met anyone that told you that there profession is oil? Now if you dont even have the human capacity, where do u think u should start from? Is it buying machinery? Is it sending your graduates to go and study about oil for 10yrs in these countries? Forget about Indeni,that was just an oil depot(storing oil produced by these countries and mix it with their own impurities to increase quantity-no wonder Zambian cars smoked…

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