Angola to increase its oil and gasoline refining capacity

Angola is planning to strengthen the its oil and gas refining capacity to meet domestic energy demand whereas lowering energy 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 gathering in Huambo province in the central region, the minister said that constructing new refineries and modernizing existing ones will enable Angola to maintain its energy supply while lowering prices incurred from power imports. To date, an absence of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to satisfy domestic vitality needs despite the country boasting 8.2 billion barrels of proven oil reserves and an estimated 13.5 trillion cubic feet of natural gas reserves.
Angola currently has just one operational refinery, the Luanda Refinery, operated by vitality company, Fina Petroleos de Angola, and national oil firm, Sonangol, processing as a lot as 65,000 barrels of crude oil per day (bpd). เกจวัดแรงดันต่ำ , nevertheless, 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 prices.
MIREMPET can additionally be growing two new facilities which embrace a $920 million plant in Cabinda to extend Angola’s refining capacity 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 construct.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having chosen Japanese conglomerate, JGC Holdings, to offer required providers. With the Russia-Ukraine tensions causing a spike in oil costs, boosting Angola’s oil and gasoline refining capacity may also reduce Angola’s vulnerability to unstable global energy costs.
Moreover, with new projects similar to Eni’s Ndungu early production project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s production and refining capacity will enable Angola to maximize the monetization of its vitality resources. As a end result, Angola will expand the buying and selling of ready-to-use fuels with Europe as the bloc seeks different vitality suppliers to reduce reliance on Russian assets.

Scroll to Top