Angola is planning to strengthen the its oil and fuel refining capability to fulfill domestic power demand whereas lowering vitality 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 constructing new refineries and modernizing present ones will allow Angola to maintain its power supply whereas decreasing prices incurred from energy imports. To date, an absence of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to meet home energy wants regardless of the country boasting 8.2 billion barrels of proven oil reserves and an estimated thirteen.5 trillion cubic feet of pure gasoline reserves.
เกจวัดแรงดันถังลม has only one operational refinery, the Luanda Refinery, operated by energy company, Fina Petroleos de Angola, and national oil firm, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million challenge, however, is underway to increase the Luanda refinery to seventy two,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 is also developing two new facilities which include 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 metropolis – 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 companies. With the Russia-Ukraine tensions causing a spike in oil costs, boosting Angola’s oil and gasoline refining capability will also reduce Angola’s vulnerability to unstable global vitality costs.
Moreover, with new initiatives such as Eni’s Ndungu early production venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s production and refining capability will allow Angola to maximize the monetization of its energy 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 reduce reliance on Russian sources.
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