Recently, Senegal has entered the league of oil-producing nations with the commencement of production at the Sangomar oil field. This crude oil is expected to be refined locally, bolstering the operations of the African Refining Company (SAR).
Meeting of Key Stakeholders
According to local Senegalese media reports on Thursday, July 25, executives from Woodside, the operator of the Sangomar oil field, held discussions with officials from the African Refining Company (SAR), which is responsible for the import and refining of crude oil in the country.
Defining Collaborative Efforts
The central focus of this meeting was to establish collaboration guidelines in anticipation of the imminent delivery of crude oil from Sangomar to the Mbao refinery, a facility managed by SAR.
Aligning on Partnership Terms
“In preparation for the upcoming delivery of Sangomar crude to the Mbao refinery, Woodside Senegal sought to meet with SAR authorities to align on the terms of a mutually beneficial partnership,” stated a communiqué cited by local press.
Strategic Importance of the Partnership
This strategic alliance between SAR and Woodside represents a pivotal step in the development of Senegal’s petroleum industry. The state aims to enhance energy self-sufficiency and reduce reliance on imported petroleum products through this partnership.
Increased Diesel Imports from Russia
As Senegal’s imports of diesel from Russia surged by 192% from 2022 to 2023, rising from 370,000 tons to 1.08 million tons, SAR concurrently boosted its annual refining capacity from 1.2 million tons to 1.5 million tons.
Impact on National Energy Security
This increased refining capacity and the strategic partnership with Woodside are crucial components of Senegal’s efforts to secure energy independence and reduce its dependency on foreign oil products.