Senegal plans to begin construction of a second oil refinery next year, aiming to boost domestic processing capacity and reduce reliance on imports. The nation is actively seeking between $2 billion and $5 billion in investment for the project, with significant financing interest already shown by countries including China, Turkey, and South Korea. The new plant, dubbed SAR 2.0, will primarily process crude from Senegal’s offshore Sangomar field, which began production last year. The refinery is expected to add 4 million tons of annual capacity, potentially enabling Senegal to achieve self-sufficiency in petroleum products by 2029 and explore regional exports. Final decisions on the refinery’s location and government equity participation are still pending.
Reuters
