US EditionAngola's State Oil Firm Sonangol Seeks $4.8 Billion Loan From China for Refinery
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6 Articles
Angola's Sonangol in talks with China for $4.8 billion refinery loan
Angola's state-owned oil company Sonangol announced Wednesday it is negotiating a $4.8 billion loan with Chinese financial institutions to partially finance a new refinery in the Atlantic port of Lobito, marking the country's first such borrowing from China since 2017.
Despite declining annual results, the Angolan oil giant intends to advance its strategic projects, including a refinery in Lobito, while diversifying in critical minerals. A double bet that requires financing.
Sonangol, the Angolan national oil company, announced Wednesday to be in discussions with Chinese financial entities in order to get a loan of 4.8 billion dollars. This financing must cover part of the cost of building a new refinery at the Atlantic port of Lobito. At a press conference, the CEO of Sonangol, Sebastião Gaspar...
Maritime Reporter
maritimeprofessional.comSonangol Looks to Secure $4.8b Loan From China for Sea Port Refinery
Angola's state oil company Sonangol is talking to Chinese financial institutions to secure a $4.8 billion loan to partly finance the construction of a new refinery in the Atlantic sea port of Lobito, it said on Wednesday.The financing, if completed…
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