LONDON: Angolan state oil firm Sonangol has suspended construction works at the Lobito refinery and the Ocean Terminal of Barra do Dande, it said in a statement on Monday.
It said works has been suspended for reassessing the strategic vision of the projects.
It said the projects were of key importance for the country and the company but the suspension was necessary, "taking into account the new economic reality facing Angola, particularly the oil sector."
The Lobito site was originally due to be completed by 2011, but the project was delayed by rising costs and financing problems.
Sonangol's new CEO, Isabel dos Santos, the daughter of Angola President Jose Eduardo dos Santos, has previously pledged to undertake significant reforms at the state energy giant amid low oil prices.
In July, Sonangol suspended all talks relating to the sale of assets belonging to Sonangol and stripped its internal legal department of most of its powers.
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