Angola: Low Oil Prices Delay Completion of Refinery and Terminal Sonangol Suspends Construction
The National Society of Angola Fuels (Sonangol) suspended construction of the Lobito refinery and ocean terminal of Barra do Dande in order to reassess the development of these projects.
Luanda/Angola — Sonangol considers this a necessary measure, taking into account the new economic reality facing Angola. The situation, particularly the oil sector, required a careful review its design, phasing and financing. However, the company ensured that it would continue to fulfill its incurred contractual obligations to date, and reiterated its commitment to make every effort to maintain the supply of fuel to the Angolan market.