Benedict Peters seals deal to build 200,000bpd refinery in Mozambique with rahim66

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Key Points

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• Benedict Peters’ Aiteo to build 200,000bpd refinery in Mozambique with PETROMOC, reshaping Southern Africa’s fuel trade. 
• Mozambique aims to cut fuel imports and become a regional energy hub, with the refinery set for delivery in 24 months. 
• The project adds storage, jobs, and strategic value; Aiteo’s expansion marks Peters’ growing footprint in Africa’s energy and mining sectors.

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Aiteo Eastern E&P Company Limited, an energy company owned by pan-African billionaire Benedict Peters, has signed a landmark deal with Mozambique’s national oil company, PETROMOC, to build a 200,000 barrels-per-day (bpd) oil refinery. The move positions Mozambique as a future energy hub in Southern Africa, potentially altering the continent’s petroleum trade dynamics. 

Mozambique’s President Daniel Chapo announced that the refinery will be delivered within 24 months and is designed to produce gasoline, diesel, naphtha, and Jet A1. The facility will also add 160,000 metric tonnes of storage for liquid fuels and 24,000 metric tonnes for LPG.

Mozambique aims to reduce fuel imports, compete regionally

Mozambique, like Nigeria before its recent refinery expansion, relies heavily on imported refined petroleum products. Top suppliers include India, UAE, Bahrain, and Saudi Arabia. Once operational, the Aiteo-backed refinery is expected to transform energy trade flows in southern Africa, potentially slashing reliance on foreign imports.

“This project will boost Mozambique’s presence in the regional fuel market while creating thousands of jobs,” President Chapo said at the Mozambique Mining and Energy Conference. “It reflects our commitment to economic reform and investment-driven growth.”

Challenging timeline, but strategic gains expected

While typical refinery construction spans 3–8 years, officials remain confident in the two-year completion target. The plant’s success would mark a milestone in Mozambique’s industrial evolution and enhance its role in Africa’s energy economy. 

In parallel, Mozambique unveiled a cross-border petroleum pipeline connecting the port city of Beira to Zambia. Scheduled for completion in four years, the 3.5 million metric tonne pipeline aims to ease road congestion and improve regional fuel logistics.

Aiteo’s African energy footprint expands

Founded in 1999, Aiteo is Nigeria’s largest privately-owned integrated energy company, producing over 90,000 bpd. Under Benedict Peters’ leadership, Aiteo has deepened its footprint in key basins like the Niger Delta and Benue Trough, while Aiteo resumed output at its Nembe field in Bayelsa, maintaining 50,000 barrels per day after addressing a major oil spill.

Beyond oil, Peters is expanding into Africa’s mining sector through Bravura Holdings, with active exploration in gold, copper, lithium, and steel across Ghana, Zambia, Namibia, and South Africa. Last year, Peters launched Zimbabwe’s first commercial-scale lithium processing plant, unveiled during the Victoria Falls Annual Mining Indaba. He is now advancing the development of the Kamativi lithium project, which is expected to produce 70,000 tonnes of spodumene concentrate annually from a tailings resource estimated at 25 million tonnes.

from Daily News on African Billionaires and UHNWIs https://ift.tt/1J0d4sQ

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