Angola to increase its oil and gasoline refining capability

Angola is planning to strengthen the its oil and fuel refining capacity to meet domestic energy demand whereas reducing vitality imports and maximizing the monetization of energy assets for regional and global markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at ร้านซ่อมเครื่องวัดความดัน in Huambo province within the central region, the minister acknowledged that constructing new refineries and modernizing current ones will allow Angola to maintain its energy supply while reducing costs incurred from vitality imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to fulfill home power needs despite the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic feet of pure gas reserves.
เครื่องมือความดัน has just one operational refinery, the Luanda Refinery, operated by energy company, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing up to sixty five,000 barrels of crude oil per day (bpd). A $235 million project, nonetheless, is underway to broaden the Luanda refinery to 72,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in power export costs.
MIREMPET is also growing two new amenities which include 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 city – in 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 provide required companies. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and gas refining capacity may even scale back Angola’s vulnerability to risky world power costs.
Moreover, with new projects similar to Eni’s Ndungu early manufacturing challenge and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s production and refining capability will allow Angola to maximize the monetization of its vitality assets. As a result, Angola will expand the buying and selling of ready-to-use fuels with Europe because the bloc seeks different vitality suppliers to reduce reliance on Russian assets.
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