Angola to extend its oil and gas refining capability

Angola is planning to strengthen the its oil and gasoline refining capability to meet domestic power demand whereas decreasing vitality imports and maximizing the monetization of power assets for regional and global 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 area, the minister acknowledged that building new refineries and modernizing present ones will enable Angola to sustain its energy supply while lowering costs incurred from energy imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to satisfy home power needs despite the nation boasting eight.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic feet of pure fuel reserves.
Angola currently has only one operational refinery, the Luanda Refinery, operated by power firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing as much as 65,000 barrels of crude oil per day (bpd). A $235 million challenge, nonetheless, is underway to broaden the Luanda refinery to seventy two,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in energy export costs.
MIREMPET can be developing two new facilities which include a $920 million plant in Cabinda to increase Angola’s refining capability by 60,000 bpd as well as a one hundred,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 provide required providers. With เกจวัดแรงดันน้ำ -Ukraine tensions inflicting a spike in oil costs, boosting Angola’s oil and gas refining capacity may even scale back Angola’s vulnerability to volatile world energy prices.
Moreover, with new initiatives similar to Eni’s Ndungu early manufacturing project 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 vitality resources. As a end result, Angola will increase the trading of ready-to-use fuels with Europe because the bloc seeks various energy suppliers to reduce reliance on Russian sources.
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