Equatorial Guinea, Suzepet Sign MoU to build Domestic Refinery

Equatorial Guinea through its Vice President Teddy Nguema has inked an MoU with Suzepet for the contruction of a domestic refinery in a ceremony in Shanghai which saw Zhang Jinhong, president of SupeZet represent the energy and petrochemical sector company.

“Within the framework of this meeting, we signed a Memorandum of Understanding to establish a joint venture aimed at building a refinery to process domestic crude oil,” Nguema wrote on X.

The two also discussed the option of collaborating in associated industries such as ethylene production, natural gas processing, and green hydrogen technologies, with the goal of transforming our nation into a hub for energy transformation in the Gulf of Guinea.

This agreement will allow the two parties to advance in defining the technical, commercial, and financial components of the project and marks the beginning of a collaboration aimed at transforming our industrial capacity in the energy sector.

“Equatorial Guinea offers a solid investment environment, a favorable business climate, and a strategic geographic location to position itself as a subregional energy hub. I appreciate SupeZet’s interest, as well as its recognition of President Obiang Nguema’s policies and leadership. Our commitment is clear: to transform our natural resources into industrial wealth, employment, and energy sovereignty for the benefit of our people.” He concluded.