Angola to increase its oil and fuel refining capability

เกจวัดแรงดันpressuregauge is planning to strengthen the its oil and gas refining capacity to fulfill home vitality demand while reducing power imports and maximizing the monetization of power sources 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 in the central area, the minister acknowledged that constructing new refineries and modernizing current ones will allow Angola to maintain its energy supply while lowering prices incurred from energy imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to meet home vitality needs despite the country boasting eight.2 billion barrels of proven oil reserves and an estimated 13.5 trillion cubic toes of pure gasoline reserves.
Angola presently has just 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 project, nevertheless, is underway to increase 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 energy export costs.
MIREMPET can additionally be growing two new amenities which embrace a $920 million plant in Cabinda to extend Angola’s refining capacity by 60,000 bpd in addition to a a hundred,000-bpd refinery in Soyo city – by which the ministry awarded US-based Quanten Consortium Angola the tender to assemble.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having selected Japanese conglomerate, JGC Holdings, to offer required providers. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and gas refining capacity will also cut back Angola’s vulnerability to unstable world vitality prices.
Moreover, with new tasks similar to Eni’s Ndungu early production challenge and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capability will enable Angola to maximise the monetization of its power resources. As a result, Angola will expand the trading of ready-to-use fuels with Europe as the bloc seeks different power suppliers to reduce reliance on Russian sources.
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