Angola to extend its oil and fuel refining capability

Angola is planning to strengthen the its oil and gas refining capacity to meet domestic power demand whereas decreasing energy imports and maximizing the monetization of power assets 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 said that building new refineries and modernizing present ones will enable Angola to maintain its vitality supply whereas lowering costs incurred from vitality imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports every year to satisfy home power wants despite the nation boasting eight.2 billion barrels of confirmed oil reserves and an estimated thirteen.5 trillion cubic feet of natural gas reserves.
ความหมายของเครื่องวัดความดัน has just one operational refinery, the Luanda Refinery, operated by energy company, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing up to sixty five,000 barrels of crude oil per day (bpd). A $235 million project, nonetheless, 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 additionally be growing two new amenities which embody a $920 million plant in Cabinda to increase 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 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 companies. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and fuel refining capability may also cut back Angola’s vulnerability to unstable international vitality prices.
Moreover, with new projects similar to Eni’s Ndungu early production project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capability will allow Angola to maximize the monetization of its power sources. As a end result, Angola will broaden the buying and selling of ready-to-use fuels with Europe because the bloc seeks alternative vitality suppliers to cut back reliance on Russian assets.
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