เกจวัดแรงดันแก๊สlpg is planning to strengthen the its oil and gas refining capacity to meet home energy demand whereas reducing power 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 gathering in Huambo province in the central region, the minister said that building new refineries and modernizing present ones will allow Angola to maintain its energy supply while reducing costs 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 satisfy domestic power needs despite the country boasting 8.2 billion barrels of proven oil reserves and an estimated thirteen.5 trillion cubic ft of pure gas reserves.
Angola presently has just one operational refinery, the Luanda Refinery, operated by vitality firm, Fina Petroleos de Angola, and nationwide oil company, Sonangol, processing as a lot as 65,000 barrels of crude oil per day (bpd). A $235 million project, however, is underway to expand the Luanda refinery to 72,000 bpd – a growth which the Ministry of Mineral Resources, Oil and Gas says will assist Angola save $200 million in power export prices.
MIREMPET can be creating two new services which embrace a $920 million plant in Cabinda to extend Angola’s refining capacity by 60,000 bpd as properly as a one hundred,000-bpd refinery in Soyo metropolis – 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 supply required providers. With the Russia-Ukraine tensions inflicting a spike in oil costs, boosting Angola’s oil and fuel refining capability may even scale back Angola’s vulnerability to volatile global vitality costs.
Moreover, with new initiatives such as Eni’s Ndungu early production challenge 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 energy resources. As a result, Angola will broaden the buying and selling of ready-to-use fuels with Europe as the bloc seeks different power suppliers to cut back reliance on Russian resources.
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