Angola is planning to strengthen the its oil and gasoline refining capability to fulfill home power demand while decreasing energy imports and maximizing the monetization of vitality resources for regional and international markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at a meeting in Huambo province in the central area, the minister acknowledged that constructing new refineries and modernizing existing ones will enable Angola to maintain its power supply whereas reducing costs incurred from power imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to satisfy domestic power wants despite the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic ft of pure gasoline reserves.
Angola at present has only one operational refinery, the Luanda Refinery, operated by power company, Fina Petroleos de Angola, and national oil firm, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million venture, nonetheless, is underway to expand the Luanda refinery to seventy two,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in vitality export costs.
MIREMPET can additionally be developing 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 one hundred,000-bpd refinery in Soyo metropolis – 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 offer required providers. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and gas refining capacity will also scale back Angola’s vulnerability to unstable world power costs.
Moreover, with new projects corresponding to Eni’s Ndungu early manufacturing challenge and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s production and refining capability will enable Angola to maximise the monetization of its energy resources. As เกจวัดแรงดันไนโตรเจนราคา , Angola will increase the buying and selling of ready-to-use fuels with Europe as the bloc seeks different vitality suppliers to reduce back reliance on Russian sources.
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