Angola to extend its oil and gasoline refining capacity

Angola is planning to strengthen the its oil and fuel refining capability to fulfill domestic power demand whereas lowering power 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 area, the minister acknowledged that building new refineries and modernizing current ones will enable Angola to sustain its vitality provide whereas lowering costs incurred from energy imports. To เกจ์อาร์กอนsumo , a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to meet domestic power wants despite the nation boasting 8.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic feet of pure gasoline reserves.
Angola at present has just one operational refinery, the Luanda Refinery, operated by vitality firm, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing as much as 65,000 barrels of crude oil per day (bpd). A $235 million project, nevertheless, is underway to expand the Luanda refinery to 72,000 bpd – a growth which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in vitality export costs.
MIREMPET is also growing two new amenities which embrace a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd as properly as a one hundred,000-bpd refinery in Soyo city – by which the ministry awarded US-based Quanten Consortium Angola the tender to assemble.
In ที่วัดแรงดันน้ำ , a 200,000-bpd refinery is being developed in Lobito province with Sonangol having chosen Japanese conglomerate, JGC Holdings, to offer required companies. With the Russia-Ukraine tensions causing a spike in oil costs, boosting Angola’s oil and gas refining capacity may even cut back Angola’s vulnerability to unstable world power prices.
Moreover, with new initiatives 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 vitality sources. As a end result, Angola will expand the buying and selling of ready-to-use fuels with Europe because the bloc seeks various power suppliers to reduce reliance on Russian sources.

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