Angola to extend its oil and gas refining capability

Angola is planning to strengthen the its oil and fuel refining capability to fulfill domestic vitality demand while reducing power imports and maximizing the monetization of vitality sources for regional and international 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 existing ones will allow Angola to maintain its energy supply while reducing prices incurred from vitality imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to meet home vitality wants regardless of the country boasting 8.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic ft of pure gas reserves.
Angola at present has just one operational refinery, the Luanda Refinery, operated by energy company, Fina Petroleos de Angola, and nationwide oil firm, Sonangol, processing up to sixty five,000 barrels of crude oil per day (bpd). A $235 million challenge, however, is underway to increase 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 power export prices.
MIREMPET can be developing two new services which embody a $920 million plant in Cabinda to extend Angola’s refining capability by 60,000 bpd as properly as a 100,000-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 chosen Japanese conglomerate, JGC Holdings, to offer required services. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and fuel refining capability may also scale back Angola’s vulnerability to unstable global vitality prices.
Moreover, with เกจวัดแรงดัน corresponding 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 assets. As pressure gauge 10 bar , Angola will increase 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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