Angola is planning to strengthen the its oil and fuel refining capability to fulfill home power demand while reducing power imports and maximizing the monetization of vitality assets for regional and international 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 acknowledged that building new refineries and modernizing existing ones will allow Angola to maintain its power provide whereas lowering 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 satisfy domestic energy needs regardless of the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic feet of pure gasoline reserves.
Angola presently has just one operational refinery, the Luanda Refinery, operated by power company, Fina Petroleos de Angola, and national oil company, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million venture, nonetheless, is underway to increase the Luanda refinery to 72,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in vitality export prices.
เกจวัดแรงดันไฮดรอลิค is also developing two new services which include a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd in addition to a a hundred,000-bpd refinery in Soyo city – 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 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 gas refining capacity may also scale back Angola’s vulnerability to volatile international power prices.
Moreover, with new tasks corresponding to Eni’s Ndungu early manufacturing venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s manufacturing and refining capability will allow Angola to maximise the monetization of its power sources. As a result, Angola will increase the trading of ready-to-use fuels with Europe as the bloc seeks alternative power suppliers to cut back reliance on Russian sources.
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