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Angola News

 

Sonangol Looks to Secure $4.8b Loan From China for Sea Port Refinery

Feb 25, 2026

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, will mark the first borrowing by the Southern African oil producer from China since 2017, when it opted to reduce its exposure to resource-backed loans…

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