By ARNALDO VIEIRA More by this AuthorZambia plans to import fuel from its oil-producing neighbour Angola in the government’s push to lower pump prices and stem supply shocks. Zambia has agreed to buy a stake in Angola’s Lobito refinery in Benguela Province along the Atlantic Coast. President Hakainde Hichilema, during his three-day visit to Angola, assured his host that his country would invest in the Lobito refinery that is under construction. Angola and Zambia are also conducting a feasibility study for a proposed oil pipeline from the Lobito refinery to Lusaka. According to a proposed governance structure, private investors, including Zambia, will own 70 percent of the refinery, with Angola state oil firm Sonangol controlling a 30 percent stake.

Source: News 24 January 13, 2023 06:56 UTC