Côte d'Ivoire plans to build a new refinery

On the sidelines of discussions with financial and technical partners held at the Côte d'Ivoire embassy in Washington, the Ivorian Minister of Mines, Petroleum and Energy, Mamadou Sangafowa Coulibaly, unveiled an ambitious project: the construction of a new oil refinery. This initiative is part of the country's drive to build a robust economy around its natural resources, marking a decisive step in its energy development.

Côte d'Ivoire, already renowned for its major oil discoveries, such as the Baleine field in 2021, is looking to maximise the value of its black gold. With production on the rise and reserves estimated at 2.5 billion barrels of crude oil and 3,300 billion cubic feet of natural gas, the country is aiming to reduce its dependence on imports of refined products, while meeting growing domestic and regional demand. The existing refinery, run by Société Ivoirienne de Raffinage (SIR), currently processes 3.8 million tonnes a year, but its capacity remains insufficient to meet the needs of a rapidly expanding economy.

The new refinery project, the technical and financial details of which are currently being finalised, aims to bridge this gap. "Côte d'Ivoire wants to build a real economy around its resources," said Mamadou Sangafowa Coulibaly, stressing the importance of processing crude oil locally into finished products such as petrol, diesel and paraffin.

These announcements come at a time when Côte d'Ivoire is stepping up its efforts to attract foreign investors. At CERAWeek 2025 in Houston, oil giants such as BP, PETROBRAS and VITOL have already expressed their interest in the Ivorian offshore. The prospect of a new refinery reinforces this momentum, offering potential partners an opportunity to integrate an extended value chain, from exploration to processing.

The discussions in Washington, bringing together financial and technical experts, are aimed at raising the necessary funds and defining a precise timetable for the project. While no specific capacity has been specified, the Ivorian authorities are insisting on the modernity and sustainability of the infrastructure, which will have to meet international standards in terms of energy efficiency and emissions reduction.

In addition to energy self-sufficiency, this refinery could position Côte d'Ivoire as an oil hub in West Africa. By exporting refined products to neighbouring countries, the country would strengthen its regional economic role while generating additional revenue for the state. This project is also in line with the vision of President Alassane Ouattara, who has propelled Côte d'Ivoire to become one of the continent's most dynamic economies.

As the American roadshow continues, with a stopover planned in New York, Côte d'Ivoire is sending out a clear message: it is ready to exploit its oil potential to the full to support its growth. Once completed, the new refinery could mark a turning point in the country's energy history, consolidating its attractiveness and economic resilience.