Angola’s President Lourenço Invites Namibia to Invest in Lobito Refinery

Angola Invites Namibia to Invest in 200,000 bpd Lobito Refinery Project

Angola has invited Namibia to acquire a stake in the Lobito refinery, a major downstream energy project under construction in Benguela Province that is designed to process 200,000 barrels of crude oil per day.

Angolan President João Lourenço announced the invitation on 19 October 2026 during a state visit to Luanda by Namibian President Netumbo Nandi-Ndaitwah.

The proposal forms part of efforts to deepen bilateral energy cooperation and attract regional investment into Angola’s refining sector.

Lourenço said the refinery would enable Angola to meet domestic demand for refined petroleum products while supplying neighbouring countries, with priority given to countries that become shareholders in the project.

He added that Angola was willing to share its experience in oil exploration, production and commercialisation with Namibia as the country prepares to develop its own petroleum resources.

The proposed refinery is designed to produce petrol, diesel and other refined petroleum products for domestic consumption and regional markets.

With an estimated investment cost of US$6.6 billion, the project is expected to play a central role in Angola’s efforts to reduce fuel imports and increase the domestic processing of crude oil.

Construction is underway, with initial production targeted for December 2027 and full completion expected in 2029.

Angola remains a major crude oil producer but continues to depend heavily on imported refined fuels because of limited domestic refining capacity.

The Lobito refinery is intended to address this gap by increasing local processing capacity and reducing exposure to international fuel supply disruptions.

Lourenço emphasised the importance of developing domestic refining infrastructure, arguing that oil-producing countries should capture greater value from their resources rather than relying primarily on crude exports.

Namibia is also seeking to expand its role in the petroleum industry following significant offshore oil discoveries.

Although commercial oil production has not yet begun, the country is progressing exploration and appraisal activities that could support future developments.

Namibian President Nandi-Ndaitwah called for a shift towards processing natural resources locally, saying both countries should seek to generate greater economic value from their resources instead of exporting them in raw form.

The invitation to Namibia follows Angola’s wider efforts to attract regional partners to the Lobito refinery.

Botswana has also been approached about taking a stake, while Zambia has expressed interest in participating in the project.

The involvement of regional investors could help diversify the project’s funding base and establish long-term markets for its refined products.

However, Namibia has not yet announced whether it will accept the invitation, and the proposed size of any stake and associated financial commitments remain undetermined.

Beyond refining, Angola and Namibia are exploring broader cooperation in energy infrastructure and regional electricity supply.

The two countries have also renewed efforts to advance the proposed Baynes hydropower project, which is intended to supply electricity to both markets.

If completed as planned, the Lobito refinery would strengthen Angola’s domestic fuel supply, expand its capacity to export refined products and support greater integration of regional energy markets.