Angola, Senegal invest in new refineries.

Position:Oil - Brief article

Senegal and Angola have commissioned new oil refining projects to increase petroleum capacity and tap into regional demand. Angola, which imports 70% of its gasoline needs from the US, is to build a $8bn, 200,000 barrels a day facility near the port of Lobito. The plant is due for commissioning by the end of 2013. About 90% of the refinery's output will be sold domestically and in neighbouring countries with the remainder exported to other regions. Oil is Angola's lifeblood, accounting for 95% of its export revenues and 40% of GDP. In September last year Angola overtook...

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