The construction of a new refinery in Equatorial Guinea is set to be handed over by the Government to a Chinese state-owned company. The refinery construction project dates back to the 2000s, and a public tender was launched with three companies pre-selected, but without a final award.

In 2019, GABRIEL OBIANG LIMA (GOL), Minister of Energy and Natural Resources, relaunched the project to build two modular refineries on the island of Bioko. Several companies revealed their willingness to analyze the projects but none advanced: Marathon Oil, the Spanish-Russian consortium Selquimica International, SDLE International (United Arab Emirates), the Egyptian Petrojet and the British company Rosslyn Energy. Nigeria has also made itself available to support the construction of refineries, as has Venezuela. READ MORE