Africa-Press – Angola. The role of the National Oil Companies (EPN) in achieving successful results in the energy sector is being seen as one of the subjects of high interest at the Conference and Exhibition “Angola Oil & Gas (AOG) 2022”, which Luanda hosts from 29 November to December 1st.
In this initiative of the Ministry of Mineral Resources, Oil and Gas, organized by Energy Capital and Power, a panel focused on National Oil Companies (EPN) is reserved.
The aforementioned panel will explore the challenges and opportunities behind financing and catalysing the growth of domestic companies, as a wave of privatization is undertaken across the continent.
As Energy Capital and Power advances in a note sent to newsrooms, NPCs not only contribute the majority of government revenues to most hydrocarbon producers, but also hold the key to ensuring sovereignty and maintaining ownership over natural resources. national. However, the role of African NPCs in the management of hydrocarbon resources has been largely underwhelming, and on the contrary, is characterized by limited “upstream” and “downstream” production capacity, high operating costs, overstaffed and continued dependence on International Oil Companies (EPI) and private sector operators.
As a result, several African oil producers – including Angola – have implemented aggressive reforms mainly marked by privatization and liberalization of the sector to increase the competitiveness of their companies. Speakers will consider addressing strategies for EPNs to achieve operational efficiency, establish good governance, build internal capabilities, and replicate the degree of autonomy and free-market discipline held by most EPIs.
“By emphasizing goals to increase competitiveness and profitability, Sonangol implemented the Regeneration Program in November 2018, through which it reoriented activities within the exploration and primary production value chain and disposed of non-core assets via a four-year privatization program,” they write.
The state-led program also established a separate mandate for the Angolan National Oil, Gas and Biofuels Agency (ANPG) as an independent concessionaire and repositioned the Petroleum Derivatives Regulatory Institute (IRDP) as the official downstream regulator. Representing one of the most comprehensive state reforms in the history of oil and gas in Africa.
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