Angola is planning to strengthen the its oil and gasoline refining capability to satisfy home vitality demand whereas lowering power imports and maximizing the monetization of energy resources 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 stated that constructing new refineries and modernizing existing ones will allow Angola to maintain its energy supply while lowering costs incurred from vitality imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to satisfy home vitality wants despite the country boasting eight.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic toes of pure fuel reserves.
Angola presently has just one operational refinery, the Luanda Refinery, operated by energy firm, Fina Petroleos de Angola, and national oil firm, Sonangol, processing up to sixty five,000 barrels of crude oil per day (bpd). pressure gauge ด้าน ดูด , nevertheless, is underway to expand the Luanda refinery to seventy two,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in energy export costs.
MIREMPET is also creating two new facilities which embody a $920 million plant in Cabinda to extend Angola’s refining capability by 60,000 bpd in addition to a 100,000-bpd refinery in Soyo city – during which the ministry awarded US-based Quanten Consortium Angola the tender to assemble.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having selected Japanese conglomerate, JGC Holdings, to offer required services. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and gasoline refining capacity may also reduce Angola’s vulnerability to unstable world power costs.
Moreover, with new tasks such as Eni’s Ndungu early manufacturing challenge and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s production and refining capacity will allow Angola to maximize the monetization of its vitality assets. As a outcome, Angola will broaden the trading of ready-to-use fuels with Europe because the bloc seeks various vitality suppliers to reduce reliance on Russian resources.
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