Angola to extend its oil and fuel refining capacity

Angola is planning to strengthen the its oil and gasoline refining capability to meet domestic energy demand while lowering power imports and maximizing the monetization of power assets for regional and international 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 region, the minister stated that constructing new refineries and modernizing current ones will allow Angola to sustain its vitality provide while 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 fulfill home energy wants despite the nation boasting eight.2 billion barrels of proven oil reserves and an estimated 13.5 trillion cubic toes of natural gasoline reserves.
Angola currently has only one operational refinery, the Luanda Refinery, operated by power company, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing as much as sixty five,000 barrels of crude oil per day (bpd). A $235 million challenge, nevertheless, is underway to broaden the Luanda refinery to 72,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in power export costs.
เกจวัดแรงดันราคา can be creating two new services 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 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 selected Japanese conglomerate, JGC Holdings, to provide required companies. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and gasoline refining capability may even reduce Angola’s vulnerability to volatile global power prices.
Moreover, with new tasks corresponding to Eni’s Ndungu early manufacturing venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capability will enable Angola to maximize the monetization of its power resources. As a outcome, Angola will increase the trading of ready-to-use fuels with Europe because the bloc seeks various vitality suppliers to scale back reliance on Russian assets.

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