Angola to extend its oil and gasoline refining capability

เกจวัดแรงดันเชื้อเพลิง is planning to strengthen the its oil and fuel refining capacity to meet home vitality demand while decreasing energy imports and maximizing the monetization of power 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 within the central region, the minister stated that constructing new refineries and modernizing present ones will allow Angola to maintain its energy provide whereas decreasing costs incurred from power imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to meet home power needs despite 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 vitality firm, Fina Petroleos de Angola, and nationwide oil firm, Sonangol, processing as much as 65,000 barrels of crude oil per day (bpd). A $235 million venture, nevertheless, is underway to broaden the Luanda refinery to 72,000 bpd – a development which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in energy export prices.
MIREMPET can additionally be creating two new facilities which embody a $920 million plant in Cabinda to extend Angola’s refining capability by 60,000 bpd as well as a a hundred,000-bpd refinery in Soyo metropolis – during 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 services. With the Russia-Ukraine tensions causing a spike in oil costs, boosting Angola’s oil and gas refining capability will also scale back Angola’s vulnerability to risky world energy costs.
Moreover, with new tasks such as Eni’s Ndungu early production venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capability will allow Angola to maximise the monetization of its vitality sources. As a outcome, Angola will expand the buying and selling of ready-to-use fuels with Europe as the bloc seeks various vitality suppliers to cut back reliance on Russian assets.

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