Angola to extend its oil and gas refining capacity

Angola is planning to strengthen the its oil and gas refining capacity to meet domestic power demand whereas lowering power imports and maximizing the monetization of vitality resources for regional and world markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at a meeting in Huambo province in the central region, the minister said that building new refineries and modernizing present ones will enable Angola to maintain its vitality provide whereas lowering costs incurred from vitality imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to meet home energy needs despite the nation boasting eight.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic ft of pure gasoline reserves.
Angola at present has only one operational refinery, the Luanda Refinery, operated by power firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing up to sixty five,000 barrels of crude oil per day (bpd). A $235 million venture, nevertheless, is underway to broaden the Luanda refinery to 72,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in energy export costs.
MIREMPET can also be growing two new facilities which embody a $920 million plant in Cabinda to extend Angola’s refining capacity by 60,000 bpd as properly as a one hundred,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 chosen Japanese conglomerate, JGC Holdings, to offer required companies. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and gasoline refining capacity may also cut back Angola’s vulnerability to volatile global energy prices.
Moreover, with new projects such as Eni’s Ndungu early manufacturing project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capacity will allow Angola to maximize the monetization of its vitality resources. As เพรสเชอร์เกจวัดแรงดันน้ำ , Angola will increase the buying and selling of ready-to-use fuels with Europe as the bloc seeks different power suppliers to reduce reliance on Russian assets.
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