SEATTLE (Oil Monster): Angola has expressed willingness to prioritize crude oil supplies to South Korea amid escalating tensions in the Middle East.
Angolan Ambassador to South Korea Sianga Kivuila Samuel Abilio said that Angola could direct spot crude cargoes to South Korean refiners in the event of potential shipping disruptions through the Strait of Hormuz. He added that this could help address Korea’s short-term supply needs. Additionally, it could lay the groundwork for stronger long-term energy ties between the two countries.
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The Ambassador stated that the matter has already been discussed with South Korea’s foreign ministry, with Seoul expected to facilitate connections between Korean energy firms and Angola’s state-owned oil company, Sonangol.
Furthermore, Angola called for South Korean investment in critical minerals such as lithium and rare earth elements. The ambassador invited Korean companies to partner with the Lobito Corridor railway and logistics project connecting Angola to mineral-rich regions in Congo and Zambia.
Incidentally, Angola is sub-Saharan Africa’s second-largest oil producer after Nigeria. The majority of its crude production is tied to long-term agreements linked to Chinese financing. Lately, the country has been looking forward to promoting spot-market sales.
