Angola to increase its oil and gasoline refining capability

Angola is planning to strengthen the its oil and fuel refining capability to fulfill home energy demand whereas lowering power 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 meeting in Huambo province within the central area, the minister acknowledged that constructing new refineries and modernizing current ones will enable Angola to maintain its energy provide while reducing prices incurred from power imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to satisfy domestic vitality wants regardless of the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic toes of natural gas reserves.
เกจวัดแรงดันแก๊สlpg at present 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 72,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in power export costs.
MIREMPET can be creating two new facilities which embody a $920 million plant in Cabinda to increase Angola’s refining capability by 60,000 bpd in addition to a a hundred,000-bpd refinery in Soyo metropolis – in 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 fuel refining capacity may also reduce Angola’s vulnerability to risky world energy costs.
Moreover, with new projects corresponding to Eni’s Ndungu early production venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s production and refining capability will enable Angola to maximize the monetization of its vitality sources. As a end result, Angola will expand the trading of ready-to-use fuels with Europe as the bloc seeks various vitality suppliers to scale back reliance on Russian assets.

Leave a Comment