PetroSA , (Yes, another Petro) , is South Africa’s state oil company.September 29, 2005
Johannesburg - PetroSA, the state oil and gas company, could take a stake of between 3 percent and 10 percent in Angola's proposed $2 billion (R12.9 billion) oil refinery at Lobito, PetroSA chief executive Sipho Mkhize said yesterday.
Sonangol, the Angolan national oil company, had invited PetroSA to tender for the stake along with two other companies, Mkhize said in an interview at the 18th World
Petroleum Congress.
The downstream sector was not a key part of PetroSA's strategy, and the oil and gas producer would "rather be in gas-to-liquids [GTL] than in the refineries", Mkhize said.
But the company decided to tender for a stake in Lobito to boost its chances of securing opportunities in Angola's upstream sector.
Due to shortages of and huge growth in demand for refined products, "companies that participate in downstream get favourable access to exploration and production", Mkhize said.
PetroSA is bidding for an onshore block in Angola.
Mkhize hoped the company's participation at Lobito would help it secure exploration rights in other Angolan blocks.Firstly, this is an old article of 2005 but shows that Angola is linking refinery to oil concessions. Additionally, in this case, PetroSA are interested in onshore blocks
LUANDA, Dec 6, 2005
(Xinhua via COMTEX) -- Angola's second oil refinery project in the port city of Lobito is expected to be completed by 2010 as new investors have pledged to fund the delayed project from next year, local media reported on Tuesday.
Syanga Abilio, vice-president and administrator of state oil firm Sonangol, was quoted as saying that there have been "some difficulties" finding companies to invest in the 3.5 billion US dollars refinery project. However, Sonangol has stipulated that oil firms seeking to participate in offshore blocks 15, 17 and 18, whose licensing rounds begin this month, must become partners in the Lobito refinery, Abilio added.Just another example of a refinery / concession linkage. Now, back to PetroSA (in 2008)
PetroSA targets Angola for oil
January 24, 2008
PetroSA would focus on Angola as it searched for new oil reserves, a company official said yesterday. The state oil company last month prequalified to submit bids for 10 new oil blocks in Angola. Final bids must be submitted by March 13.
"We are evaluating a number of blocks," said Bradley Cerff, PetroSA’s regional manager for east and west Africa. It is also studying other acquisition opportunities in the continent, with a view to supplementing its gas reserves.There are 3 onshore blocks available in this round. Kon 11, Kon 12 and Cabinda central. Is there a link between PetroSA and CVI.
CVI ASX release
CityView Corporation Limited ("CityView") advises that in conjunction with a major African partner it has entered into preliminary arrangements to purchase an Oil
Refinery with capacity of 100,000 bpd.
and
A.Existing Offshore Oil Permits
Participation in four offshore blocks have been offered to CityView under terms which are prescribed confidential.So we know CVI are involved with falcon but perhaps they are also partnering with PetroSA?.
I know this is all speculation but that is all we have at the moment. But why a 100,000 bpd used plant if Sonangol intend to build a 200,000 bpd state of the art plant?
Syanga Abilio, vice-president and administrator of state oil firm Sonangol, was quoted as saying that there have been "some difficulties" finding companies to invest in the 3.5 billion US dollars refinery project. ( The project cost is now $4.2 Billion and by the time they start might reach $5Billion)
and
http://findarticles.com/p/articles/mi_qa5327/is_200312/ai_n21339962 Dec 2003
Despite industry doubts over its viability, the Angolan government is determined to proceed with its plans to build a flagship refinery, although its commissioning might have to be pushed back a year to 2008.
The project has slowed because of Sonangol's protracted negotiations with strategic partners. The state oil company is, however, confident that the proposed refinery to be built at the port city of Lobito will overcome its current financing hiatus and will soon move off the drawing board
Opponents of the refinery say it will be reliant on exports of at least 90% of its output, and will not be able to compete with South African producers on price or delivery. South Africa exports some 15% of its production into regional markets, a prime target for the new Angolan refinery.
and
In March last year, a joint venture was announced between Sonangol and Sinopec, Angola and China’s respective state-owned oil companies, to develop a refinery in Lobito.
The joint venture, known as Sonangol-Sinopec International (SSI), also tendered for oil exploration contracts. The announcement this month that the negotiations around the SSI joint-venture had collapsed, pose some interesting questions regarding the developing dynamics surrounding Angola’s oil reserves. Angola dropped China's participation in the project and will push it forward on its own
"When the refinery is put into operation in 2010," he said, " Angola will not only save 500 million U.S. dollars a year in import of oil derivatives, but also have a surplus for export."So, will Sonangol really build this refinery that they have talked about for the last 7 years, especially at a cost of around 4.5 -5 Billion and with doubts about its viability. Is that why China really pulled out?
Maybe the delay is not the leases but sorting out refinery contracts and details. Yes, I know lots of fanciful speculation, but I will keep working on it.
