Page 8 - AfrOil Week 16 2022
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AfrOil                                         INVESTMENT                                              AfrOil



                         “The auctioning of new oil blocks anywhere is   plans for community-led forest management.”
                         wrong and undermines communities’ right to a   As of press time, it was not clear whether
                         healthy environment,” she was quoted as saying   DRC’s government had responded in any way
                         in the NGO’s statement. “The plan for big oil   to Greenpeace’s appeal. ™
                         companies to trash Congo’s most sensitive eco-
                         systems is a historic error that must be scrapped
                         immediately.”
                           She also urged the international community
                         to focus on supporting the DRC government
                         in its pledge to help formulate solutions for cli-
                         mate change. “Donor countries, which pledged
                         $500mn to protect Congo’s rainforest during
                         the COP26 in Glasgow, are realising the extent
                         of [the] chaos that prevails in the management
                         of these forests. They must now address the
                         shady and dirty plans for replacing rainforests
                         and peatlands with oil,” she commented. “Donor
                         countries can support the Congolese govern-
                         ment to become a country of solutions rather
                         than a producer of new pollution by ramping up
                         investments in renewable energy and expanding    Peatlands in Cuvette Centrale (Photo: Greenpeace)



       Sonangol to move forward with Lobito



       refinery project despite lack of partner






            ANGOLA       ANGOLA’S  national oil company (NOC)   this refinery is moving forward.”
                         Sonangol has decided to move forward with the   The Sonangol head also told reporters that
                         construction of a new refinery at Lobito even   the company was having to adapt its plans for
                         though it has yet to choose a partner for the pro-  another refinery project in light of recent devel-
                         ject, according to Sebastião Gaspar Martins, the   opments. The conflict between Russia and
                         company’s president.                 Ukraine has affected the NOC’s efforts to pro-
                           Martins indicated on Monday, April 18 that   cure the steel it needs for the construction of an
                         Sonangol had chosen this strategy even though it   oil-processing plant in Cabinda, he explained.
                         had hoped initially to follow a different path. “At   Sonangol has been discussing the Lobito
                         the moment, we are deciding with which entities   refinery project for about 20 years and began
                         we are going to form the consortium and share-  searching for a partner last year.
                         holder, but we intend to move forward with the   It is looking to retain a 30% stake in the pro-
                         project, albeit with initial funds from Sonangol,”   ject but hopes to form a consortium with the
                         he was quoted as saying by Ver Angola during a   strategic investor or investors that can buy the
                         press briefing. “The decision has been taken, and   remaining 70%.






















                                                                Infrastructure networks in Lobito (Image: Sonangol)



       P8                                       www. NEWSBASE .com                           Week 16   20•April•2022
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