เครื่องมือความดัน is planning to strengthen the its oil and gas refining capacity to satisfy domestic vitality demand while decreasing power imports and maximizing the monetization of energy assets for regional and international markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at a gathering in Huambo province within the central region, the minister acknowledged that building new refineries and modernizing present ones will enable Angola to maintain its energy provide whereas lowering prices incurred from vitality imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to meet domestic power needs regardless of the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic feet of natural gas reserves.
Angola at present has only one operational refinery, the Luanda Refinery, operated by energy firm, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing as a lot as 65,000 barrels of crude oil per day (bpd). A $235 million venture, nonetheless, is underway to broaden the Luanda refinery to 72,000 bpd – a growth which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in power export costs.
MIREMPET can additionally be creating two new services which include a $920 million plant in Cabinda to extend Angola’s refining capability by 60,000 bpd as nicely as a a hundred,000-bpd refinery in Soyo city – during which the ministry awarded US-based Quanten Consortium Angola the tender to construct.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having selected Japanese conglomerate, JGC Holdings, to offer required providers. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and gasoline refining capability will also reduce Angola’s vulnerability to risky international vitality costs.
Moreover, with new projects corresponding to Eni’s Ndungu early production venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capacity will enable Angola to maximise the monetization of its power sources. As a result, Angola will increase the buying and selling of ready-to-use fuels with Europe because the bloc seeks different vitality suppliers to scale back reliance on Russian sources.
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