Angola to increase its oil and gas refining capacity

Angola is planning to strengthen the its oil and gasoline refining capacity to fulfill domestic energy demand whereas reducing power 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 within the central area, the minister stated that constructing new refineries and modernizing existing ones will allow Angola to sustain its power supply while lowering costs incurred from power imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports each year to fulfill home energy needs despite the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic feet of pure fuel reserves.
Angola at present has just one operational refinery, the Luanda Refinery, operated by energy firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing up to sixty five,000 barrels of crude oil per day (bpd). A $235 million venture, nevertheless, is underway to broaden the Luanda refinery to 72,000 bpd – a growth which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in power export prices.
nuova fima pressure gauge ราคา can additionally be developing two new facilities which include a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd as properly as a a hundred,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 offer required companies. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and fuel refining capability may even scale back Angola’s vulnerability to unstable world vitality prices.
Moreover, with new projects similar to Eni’s Ndungu early production project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s production and refining capacity will allow Angola to maximize the monetization of its power sources. As a end result, Angola will expand the buying and selling of ready-to-use fuels with Europe because the bloc seeks different power suppliers to scale back reliance on Russian resources.

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