The most recent launch date for the Cabinda Refinery — early in the second half of 2025 — was announced by Sebastião Gaspar Martins, Chairman of Sonangol, during the Angolan oil company’s traditional annual press conference in February. This marks the seventh projected date given by various officials, including Diamantino Azevedo, Minister of Mineral Resources, Petroleum and Gas, and executives from Gemcorp, which owns 90% of the refinery.
Before Sonangol’s February announcement — which holds the remaining 10% stake — Atanas Bostandjiev, founder and CEO of Gemcorp, told Reuters in October 2024 that production would begin in April 2025, with the “first phase completed ahead of schedule, but over budget.”
“The refinery will come online in January–February, with the first supplies reaching the local market by March–April,” Bostandjiev said at the time.
This joins a series of previous launch predictions: end of 2021, then Q1 2022, followed by June 2022, December 2022, December 2023, and end of 2024.
Construction of the refinery began in 2017, after an international tender awarded the project to United Shine (linked to Russian-Israeli businessman Arcadi Gaydamak). However, in December 2019, the tender was cancelled and the project was handed over — through direct award and without major justification — to Gemcorp.
The first phase of the modular refinery, budgeted at $473 million USD — three times the original estimate — is expected to produce naphtha, Jet A1 (aviation fuel), diesel, and heavy fuel oil (HFO). Naphtha and HFO will be destined for export markets.
Initially, the refinery is expected to supply 10% of Angola’s domestic market, with plans to double capacity to 60,000 barrels/day in a second phase, and potentially process between 90,000 and 120,000 barrels/day in later stages.
Although promoted as a private initiative, Sonangol provided the initial capital investment — a fact acknowledged by the oil company.
Source: Expansão
