China-Angola Ties: Oil minister: cooperation with Chinese companies ‘significant’ for regional integration

Angola is China’s second-largest trading partner in Africa, with bilateral trade surpassing 27 billion US dollars in 2022. Wang Mengjie sat down with Angola’s oil minister Diamantino Azevedo, to get his thoughts on bilateral cooperation in the resources sector. 

WANG MENGJIE   CGTN Reporter “You just witnessed the signing of an MoU for a refinery involving companies from both sides during your trip in Beijing. How do you see co-operation on such projects between China and Angola?”

DIAMANTINO AZEVEDO   Angola Minister of Mineral Resources, Oil and Gas “This is a very significant project for our country. Currently Angola is an oil producing nation, but imports 80 percent of its necessities in terms of petroleum-based derivatives. And in light of this fact, our government has decided that we must overcome this constraint and become self-sufficient in the production of oil derivatives.”

WANG MENGJIE   CGTN Reporter “Ten years on, how do you evaluate the importance of the Belt and Road Initiative to Angola? What changes it has brought to your country?”

DIAMANTINO AZEVEDO   Angola Minister of Mineral Resources, Oil and Gas “The relationship in terms of cooperation between Angola and China has already endured for 40 years, and it has been an important relationship for both countries. Angola has voiced regarding this relationship with China and has contributed to create the necessary conditions for economic growth in infrastructure, roads, hospitals and schools.”

WANG MENGJIE   CGTN Reporter “Some view China’s development as a threat rather than opportunities. What do you think about China’s development and its role in Angola and other parts of Africa?”

DIAMANTINO AZEVEDO   Angola Minister of Mineral Resources, Oil and Gas “I can make references to China’s relationship with Angola, and specifically in the oil sector, which we deem to be a healthy relationship. When Angola enters into relationships with other countries, it always enters into such relationships with the utmost respect and for the purpose of earning profits for both parties, and in this sense we see the relationship with China from this point of view.”

WANG MENGJIE   CGTN Reporter “What are your expectations about bilateral ties with China in the minerals and petroleum sectors or other fields?”

DIAMANTINO AZEVEDO   Angola Minister of Mineral Resources, Oil and Gas “We already have cooperation with Chinese companies in the oil sector. During my three-day visit, we discussed to deepen it in fields of oil exploration and petrochemical refining specifics. We also talked about gas and possible projects for renewables and solar energy. We are very optimistic about the existing cooperation as Chinese companies are participating in the production and exploration of Angola’s resources such as minerals, diamonds, copper, and other minerals.”