Angola to extend its oil and gasoline refining capacity

Angola is planning to strengthen the its oil and fuel refining capacity to satisfy home power demand whereas decreasing power imports and maximizing the monetization of power sources 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 stated that building new refineries and modernizing current ones will allow Angola to maintain its power provide while decreasing prices 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 regardless of the nation boasting 8.2 billion barrels of proven oil reserves and an estimated thirteen.5 trillion cubic ft of natural gasoline reserves.
Angola at present has just one operational refinery, the Luanda Refinery, operated by vitality firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million challenge, nonetheless, is underway to expand the Luanda refinery to seventy two,000 bpd – a growth which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in vitality export prices.
MIREMPET can be creating two new services which embrace a $920 million plant in Cabinda to increase Angola’s refining capability by 60,000 bpd in addition to a 100,000-bpd refinery in Soyo city – by which the ministry awarded US-based Quanten Consortium Angola the tender to assemble.
In หลักการทํางานของpressuregauge , a 200,000-bpd refinery is being developed in Lobito province with Sonangol having chosen Japanese conglomerate, JGC Holdings, to supply required providers. With the Russia-Ukraine tensions inflicting a spike in oil costs, boosting Angola’s oil and gas refining capability will also reduce Angola’s vulnerability to risky global power prices.
Moreover, with new initiatives such as Eni’s Ndungu early manufacturing challenge and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capacity will enable Angola to maximise the monetization of its energy resources. As a result, Angola will increase the trading of ready-to-use fuels with Europe because the bloc seeks different energy suppliers to reduce reliance on Russian assets.
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