- Congo’s second oil refinery in Fouta, set to open by the end of 2025, aims to reduce reliance on imported refined products.
- The $600 million facility will produce 2.5 million tons of diesel and gasoline annually, strengthening the country’s energy independence.
- The refinery will create jobs and support Congo’s plan to export refined products to regional markets, boosting economic growth.
Congo will open its second oil refinery in Fouta by the end of 2025, aiming to cut its reliance on imported refined products. Beijing Fortune Dingheng Investment developed the $600 million refinery to boost Congo’s energy independence.
The facility, located 30 kilometres from Pointe-Noire, has entered its final development phase after nearly four years of development. It will produce 2.5 million tons of diesel, gasoline, and other petroleum products annually.
Despite being Africa’s fifth-largest oil producer, Congo heavily depends on imports to meet its refined product needs. In 2023, Congo imported $140 million worth of refined petroleum products, according to the Observatory of Economic Complexity (OEC). The country’s current refining capacity comes from a single Pointe-Noire refinery operated by Congolaise de Raffinage (Coraf).
Congo developed the Fouta refinery project to reduce fuel shortages and stabilise the local market. By increasing local production, the government aims to lessen dependence on imports. The refinery will also create jobs and attract foreign investment in the downstream oil sector.
The government’s reforms seek to make the oil and gas sector more attractive to investors. The Congo Energy & Investment Forum (CEIF), scheduled for March 24-26, will serve as the official platform for announcing the country’s new oil and gas licensing round.
Officials expect the refinery to impact Congo’s economy by addressing local demand and positioning Congo as a potential exporter to neighbouring countries. The Fouta refinery could play a significant role in Congo’s journey toward energy self-sufficiency.
Once operational, the refinery will significantly reduce Congo’s reliance on imports. The project supports the government’s goals of stabilising the local market and strengthening the oil industry.
Congo’s investment in energy infrastructure reflects its broader energy reforms. These reforms seek to improve the business environment and increase investor interest in the oil and gas sector. The CEIF aims to showcase Congo’s plans to international investors.
By building the Fouta refinery, Congo intends to secure its energy future. The new facility will address recurring fuel shortages, create jobs, and promote economic growth.
In summary, Congo’s second oil refinery represents a significant step toward energy independence. It aligns with the country’s strategy to reduce imports, stabilise its domestic market, and expand its regional presence in the oil industry. The Fouta refinery, set to launch in 2025, will enhance Congo’s refining capacity and contribute to its economic growth.