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SMB in new plan to expand Ivory Coast bitumen refinery

  • Märkte: Oil products
  • 12.08.26

Ivory Coast refiner SMB has revived plans to expand production capacity at its 10,500 b/d bitumen-focused Abidjan refinery years after a previous expansion project was delayed, according to market participants.

Several market participants involved in the west African market said SMB, west Africa's sole bitumen producer and exporter, signalled its intention to expand capacity at Abidjan in a four-year project also involving bitumen storage capacity expansion.

A leading bitumen supplier into Nigeria, the key regional bitumen market that receives regular cargo shipments from Abidjan, said the Ivory Coast producer was planning to expand Abidjan's bitumen production capacity by a third from a current 300,000t/year to 400,000t/yr. SMB did not confirm and said "any information relating to our refinery projects remains strictly confidential". Abidjan refinery's total crude throughput is around 520,000 t/yr, mainly consisting of Latin American bitumen-yielding crude grades. The facility also produces small quantities of gasoil and kerosene.

In 2017, company officials said [SMB planned to raise]((https://direct.argusmedia.com/newsandanalysis/article/1582208) bitumen production capacity at Abidjan to 480,000-500,000 t/yr by 2020, but the project suffered delays on cost issues. Completion was pushed back to 2030 a year after, but works on the expansion never started. One west African market participant expressed scepticism about the renewed SMB push to expand Abidjan, considering previous plans did not materialise.

But another regional player believes work on the project to be imminent, citing "the accelerating pace of infrastructure investment decisions" in some countries — such as Senegal, Benin and Ivory Coast — in the West African Economic and Monetary Union (WAEMU). He also said global crude and bitumen supply dislocation caused by the US-Iran war and effective closure of the strait of Hormuz, as well as positive construction sector and bitumen growth prospects in west Africa, had persuaded SMB to revive its refinery expansion plan.

Competition steps up

SMB has faced growing competition from international trading firms shipping bitumen into key markets such as Nigeria and the firm's market share shrunk considerably. It supplied just over one-half of the west African market in the late 2010s.

According to Kpler, bitumen cargo exports from Abidjan fell last year to 78,000t from 153,000t in 2024, although that was partly as a result of rising domestic demand in the run-up to Ivory Coast presidential elections in October last year.

Trading firms Vitol, Trafigura and Gunvor, alongside long-established west African supply Rubis Asphalt increased? deliveries to Nigeria, the key regional market, last year. And a series of [newbuild bitumen tankers[(https://direct.argusmedia.com/newsandanalysis/article/2785697) from Chinese shipyards in late 2025 and early 2026 took Chinese and other bitumen cargoes to west African destinations, especially Nigeria.

Ten cargoes carrying a total 51,000t of bitumen have been exported from Abidjan so far this year, according to Kpler. Seven of them were shipped on Nigerian importer Gradient Bitumen's 6,033 deadweight tonne (dwt) Jane Asphalt to SMB's30,000t capacity Warri, Nigeria, terminal.The other three were shipped on SMB's 5,897dwt time-chartered Accord and delivered into the SMB/Goil joint venture import terminal at Tema, Ghana. The latest was received on 1 June and since then the tanker has been inactive, according to vessel tracking data.

A two-month February-March turnaround at the SMB refinery cut export availability and forced west African buyers to raise imports.

Total bitumen cargo imports into Nigeria have according to Kpler hit 173,000t already this year, mainly due to a busy dry season first half before a sharp rainy season slowdown since mid-June. The volumes compare with 261,000t in the whole of 2025 and 242,000t in 2024, although Nigerian suppliers say actual Nigerian import totals have been surpassing 300,000t/yr and are set to grow steadily.


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