Angola’s state oil company Sonangol has said it has not received any formal request from Botswana to acquire a stake in the $6.6 billion Lobito refinery project, clarifying earlier reports suggesting potential participation. The statement was made on April 15, 2026, by a senior company executive on the sidelines of an energy conference in Cape Town, as reported by CNBC Africa.
The clarification follows media reports quoting Botswana’s energy minister indicating the country was considering a 30 percent stake in the refinery. However, Sonangol’s refining division CEO, Joaquim Kiteculo, said the company was surprised by the reports, noting that no official communication had been received. “It was our first time to hear that Botswana is interested,” he said.
The Lobito refinery, designed to process around 200,000 barrels per day, is a flagship project aimed at reducing Angola’s reliance on imported fuel and positioning the country as a regional refining hub. While Angola remains open to new investors, officials have indicated the government intends to retain a 51 percent majority stake in the project.
Sonangol added that Zambia remains the primary regional partner under an existing memorandum of understanding, while Botswana is separately exploring options to strengthen its fuel supply security. The development highlights the complexities of regional energy partnerships, as African countries increasingly seek collaborative infrastructure to reduce import dependence and enhance energy resilience.
