In a significant development for the African energy sector, Angola's new oil refinery in Cabinda is set to commence production by April 2025. The refinery, which will refine Angolan Cabinda crude at a rate of 30,000 barrels per day, will supply 5-10% of the country's needs, reducing its dependence on imported fuel.

The project's first phase, which has already reached an investment of $500-550 million, will include a crude distillation unit, desalinator, kerosene treating unit, and supporting infrastructure, as well as a 1.2-million-barrel storage terminal and pipelines. The second phase, expected to be completed 1-1.5 years after the refinery starts up, will increase the crude processing capacity to 60,000 bpd and add a diesel and jet fuel-producing hydrocracking unit.

This development is crucial for Angola, Africa's second-largest oil-producing country, which currently imports $2.16 billion worth of refined petroleum annually. The refinery will not only reduce the country's fuel imports but also eliminate fuel subsidies, making the energy sector more efficient.

The project's significance extends beyond Angola, as it showcases the potential for African countries to develop their own energy infrastructure and reduce their reliance on external factors. This development is a positive step towards energy independence and economic growth for the region.