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Africa’s refinery sector is experiencing a resurgence, with significant capacity expansions underway in Nigeria, Ghana, and Angola. This growth is expected to enhance energy security and boost economic development across the region, according to a new report by Hawilti.
The report states that “While challenges persist within the sector, including access to capital and securing crude oil feedstock, the benefits of investing in new facilities and upgrading existing infrastructure extend beyond economic gains, enhancing energy security and stabilizing local markets.”
Souheil Abboud, Managing Director at VFuels LLC, an active player within the sector, emphasized that the recent wave of refineries springing up across Africa has positioned the region on track to becoming a key global participant.
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Abboud noted, “The recent wave of refinery developments marks a significant shift for Africa. Moreover, the continued interest in modular projects in West Africa is likely to sustain capacity growth in the short and medium terms.”
The Hawilti report highlighted that Nigeria’s Dangote Refinery, one of the world’s largest single-train refineries with a capacity of 650,000 barrels per day, is leading the transformation of the sector. Additionally, the recently commissioned Sentuo Oil Refinery in Ghana is contributing to the region’s increasing refining capacity.
Furthermore, Angola’s Cabinda Refinery, scheduled for commissioning later this year, will further boost the continent’s refining capacity. This new infrastructure is expected to reduce dependence on imported fuels and support local economic development.
