Angola to extend its oil and fuel refining capacity

Angola is planning to strengthen the its oil and gasoline refining capacity to satisfy home vitality demand whereas decreasing energy imports and maximizing the monetization of energy sources for regional and world 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 region, the minister stated that constructing new refineries and modernizing current ones will allow Angola to sustain its vitality supply whereas reducing costs incurred from energy imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to fulfill home energy wants regardless of the country boasting eight.2 billion barrels of proven oil reserves and an estimated 13.5 trillion cubic toes of pure gas reserves.
Angola currently has only one operational refinery, the Luanda Refinery, operated by vitality company, Fina Petroleos de Angola, and nationwide oil firm, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million venture, however, is underway to broaden the Luanda refinery to 72,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in power export prices.
MIREMPET can be growing two new services which embrace a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd as nicely as a 100,000-bpd refinery in Soyo city – in which the ministry awarded US-based Quanten Consortium Angola the tender to construct.
In เครื่องมือตรวจวัดความดันเลือดเรียกว่า , 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 causing a spike in oil costs, boosting Angola’s oil and fuel refining capability may also scale back Angola’s vulnerability to volatile international energy costs.
Moreover, with new tasks corresponding to Eni’s Ndungu early production project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s manufacturing and refining capability will allow Angola to maximize the monetization of its vitality sources. As a result, Angola will broaden the trading of ready-to-use fuels with Europe because the bloc seeks various energy suppliers to scale back reliance on Russian sources.
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