Angola is planning to strengthen the its oil and gas refining capability to satisfy domestic energy demand while lowering energy imports and maximizing the monetization of power assets 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 acknowledged that constructing new refineries and modernizing current ones will allow Angola to sustain its energy provide whereas lowering prices incurred from vitality imports. To เกจวัดแรงดันลม , a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports each year to fulfill home energy wants regardless of the country boasting 8.2 billion barrels of proven oil reserves and an estimated 13.5 trillion cubic feet of pure fuel reserves.
Angola presently has just one operational refinery, the Luanda Refinery, operated by vitality firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing as a lot as sixty five,000 barrels of crude oil per day (bpd). A $235 million project, nevertheless, is underway to expand 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 energy export prices.
MIREMPET is also growing two new amenities which embrace a $920 million plant in Cabinda to extend Angola’s refining capability by 60,000 bpd as well as a 100,000-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 supply required companies. With the Russia-Ukraine tensions causing a spike in oil costs, boosting Angola’s oil and gas refining capability may also cut back Angola’s vulnerability to risky international energy prices.
Moreover, with new tasks corresponding to Eni’s Ndungu early production venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s manufacturing and refining capacity will enable Angola to maximise the monetization of its power assets. As a end result, Angola will expand the buying and selling of ready-to-use fuels with Europe as the bloc seeks various power suppliers to cut back reliance on Russian resources.
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