Senegal plans to start constructing a second oil refinery next year, seeking $2 billion to $5 billion in investment to boost domestic processing capacity.
The new refinery, dubbed “SAR 2.0,” will increase the country’s refining capacity by 4 million tons per year, aiming for self-sufficiency in petroleum products by 2029 and potentially exporting to other regional countries.
Feedstock for the new plant will primarily come from Senegal’s offshore Sangomar oil and gas field, operated by Woodside Energy with national oil company Petrosen as a minority shareholder.
The Société Africaine de Raffinage (SAR), West Africa’s oldest refinery, currently processes 1.5 million tons of crude oil annually but faces domestic shortages.
The new project has garnered interest from investors in China, Turkey, and South Korea, although no final decision has been made on the refinery’s location or potential government equity share.
With a targeted production start-up date of 2029, Senegal is poised to strengthen its energy independence and become a significant player in West Africa’s oil industry.
