เกจวัดถังแก๊ส is planning to strengthen the its oil and gas refining capability to satisfy home energy demand while lowering energy imports and maximizing the monetization of energy 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 constructing new refineries and modernizing existing ones will allow Angola to sustain its power supply while decreasing costs incurred from power imports. To date, an absence of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to fulfill home power wants despite the nation boasting eight.2 billion barrels of confirmed oil reserves and an estimated 13.5 trillion cubic ft of pure gasoline reserves.
Angola presently has just one operational refinery, the Luanda Refinery, operated by vitality firm, Fina Petroleos de Angola, and national oil firm, Sonangol, processing up to 65,000 barrels of crude oil per day (bpd). A $235 million venture, nevertheless, 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 assist Angola save $200 million in power export costs.
MIREMPET can be creating two new amenities which embrace a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd as well as a one hundred,000-bpd refinery in Soyo city – in 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 provide required providers. With the Russia-Ukraine tensions causing a spike in oil prices, boosting Angola’s oil and fuel refining capability may also cut back Angola’s vulnerability to unstable world power prices.
Moreover, with new projects similar to Eni’s Ndungu early manufacturing project and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, expanding Angola’s manufacturing and refining capacity 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 different energy suppliers to scale back reliance on Russian resources.
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