Angola is planning to strengthen the its oil and fuel refining capacity to satisfy domestic vitality demand while reducing vitality imports and maximizing the monetization of energy 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 within the central region, the minister stated that constructing new refineries and modernizing current ones will allow Angola to sustain its energy supply while reducing costs incurred from power imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports each year to fulfill domestic energy needs despite the country boasting 8.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic ft of natural gasoline reserves.
Angola presently has just one operational refinery, the Luanda Refinery, operated by vitality firm, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing as much as sixty five,000 barrels of crude oil per day (bpd). A $235 million challenge, nonetheless, is underway to increase the Luanda refinery to 72,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in power export prices.
MIREMPET can be growing two new amenities which embody a $920 million plant in Cabinda to increase Angola’s refining capability by 60,000 bpd in addition to a one hundred,000-bpd refinery in Soyo metropolis – by 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 chosen Japanese conglomerate, JGC Holdings, to provide required services. With pressure gauge วัด แรง ดัน -Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and fuel refining capacity will also cut back Angola’s vulnerability to risky international energy prices.
Moreover, with new initiatives corresponding to 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 energy resources. As a outcome, Angola will increase the trading of ready-to-use fuels with Europe as the bloc seeks alternative energy suppliers to reduce reliance on Russian resources.
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