Angola to extend its oil and gasoline refining capacity

pressure gauge nuova fima ราคา is planning to strengthen the its oil and gas refining capability to satisfy domestic energy demand while lowering vitality imports and maximizing the monetization of vitality resources for regional and global markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at a gathering in Huambo province within the central area, the minister said that building new refineries and modernizing present ones will allow Angola to maintain its power supply whereas lowering prices incurred from vitality imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports each year to fulfill domestic energy 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 currently has only one operational refinery, the Luanda Refinery, operated by vitality company, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million challenge, however, is underway to broaden the Luanda refinery to 72,000 bpd – a improvement which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in energy export prices.
MIREMPET is also creating two new facilities which include a $920 million plant in Cabinda to extend Angola’s refining capacity by 60,000 bpd as nicely as a 100,000-bpd refinery in Soyo city – during 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 provide required companies. 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 volatile world vitality costs.
Moreover, with new tasks corresponding to Eni’s Ndungu early production venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s production and refining capability will allow Angola to maximise the monetization of its vitality resources. As a result, Angola will increase the trading of ready-to-use fuels with Europe as the bloc seeks different vitality suppliers to reduce reliance on Russian assets.
Share

Leave a Comment