Angola to increase its oil and gas refining capacity

Angola is planning to strengthen the its oil and gasoline refining capability to satisfy home energy demand while decreasing vitality imports and maximizing the monetization of energy sources for regional and global markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at a meeting in Huambo province within the central area, the minister acknowledged that constructing new refineries and modernizing existing ones will allow Angola to maintain its energy provide whereas decreasing costs 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 satisfy domestic energy needs regardless of the country boasting eight.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic ft of natural gas reserves.
Angola presently has only one operational refinery, the Luanda Refinery, operated by energy firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). pressure gauge 4 นิ้ว , however, is underway to broaden the Luanda refinery to seventy two,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in energy export prices.
เกจวัดแรงดัน1บาร์ can additionally be developing two new services which embrace a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd in addition to a 100,000-bpd refinery in Soyo metropolis – by which the ministry awarded US-based Quanten Consortium Angola the tender to construct.
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 gas refining capacity will also cut back Angola’s vulnerability to unstable world vitality costs.
Moreover, with new projects corresponding to Eni’s Ndungu early manufacturing project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s production and refining capacity will enable Angola to maximize the monetization of its vitality assets. As a outcome, Angola will expand the buying and selling 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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