THAILANDGAUGE LOGO.png

Angola is planning to strengthen the its oil and gasoline refining capability to meet home power demand whereas lowering power imports and maximizing the monetization of vitality resources for regional and global 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 building new refineries and modernizing current ones will enable Angola to sustain its power provide while decreasing prices incurred from energy imports. To date, a scarcity 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 toes of natural gasoline reserves.
pressure gauge has only one operational refinery, the Luanda Refinery, operated by power firm, Fina Petroleos de Angola, and national oil firm, Sonangol, processing up to sixty five,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 assist Angola save $200 million in power export costs.
MIREMPET can also be creating two new facilities which embrace a $920 million plant in Cabinda to increase 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 assemble.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having selected Japanese conglomerate, JGC Holdings, to supply required services. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and gasoline refining capability may even scale back Angola’s vulnerability to volatile international energy prices.
Moreover, with pressure gauge such as Eni’s Ndungu early manufacturing project 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 vitality resources. As a outcome, Angola will expand the trading of ready-to-use fuels with Europe because the bloc seeks various power suppliers to reduce reliance on Russian sources.
Share