Angola to increase its oil and gas refining capability

Angola is planning to strengthen the its oil and gas refining capability to fulfill domestic power demand whereas reducing energy imports and maximizing the monetization of vitality resources 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 within the central region, the minister said that constructing new refineries and modernizing present ones will allow Angola to sustain its power provide whereas reducing prices incurred from energy imports. To date, a scarcity of infrastructure has resulted in Angola spending over $1.7 billion on oil imports each year to satisfy home energy wants regardless of the nation boasting eight.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic feet of pure gasoline reserves.
pressure gauge น้ำมัน at present has just one operational refinery, the Luanda Refinery, operated by energy company, Fina Petroleos de Angola, and national oil firm, Sonangol, processing as much as sixty five,000 barrels of crude oil per day (bpd). เกจวัดแรงดันnuovafima , nonetheless, is underway to expand 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 is also 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 one 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 selected Japanese conglomerate, JGC Holdings, to offer required services. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and gasoline refining capacity may also reduce Angola’s vulnerability to risky international power costs.
Moreover, with new projects corresponding to Eni’s Ndungu early production challenge and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s production and refining capability will allow Angola to maximize the monetization of its power sources. As a outcome, Angola will increase the buying and selling of ready-to-use fuels with Europe because the bloc seeks alternative energy suppliers to scale back reliance on Russian assets.
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