Africa-Press – Angola. The Director of Planning and Management Control of the national oil company, Edson Pongolola ensured on Monday in Luanda that Angolan fuel market remains stable, with a reduction in dependence on imported products expected to be around 65% in the second quarter of this year.
Speaking to journalists, on the sidelines of the presentation of the balance sheet for the first quarter of the year, the official guaranteed that “the country has full capacity to respond to domestic consumption.”
He highlighted that, in the period under analysis, sales of refined products exceeded one million metric tons, driven by a stable daily consumption of approximately 13 million liters of diesel.
The official explained that, due to the scheduled maintenance shutdown of the Luanda Refinery for two months in the first quarter of this year, about 85% of the refined products consumed came from imports.
However, with the operational return of the unit, it is estimated that this (import) will now ensure one-third of the country’s needs.
“We have the advantage of having the Luanda Refinery back in operation in the second quarter after maintenance. In addition, with the expected production from the Cabinda Refinery, we will have additional leeway in product availability,” said Edson Pongolola.
International scenario and prices
Regarding the geopolitical situation, the director stressed that, although the conflicts in the Middle East did not affect volumes at the beginning of the year, they represent an increased risk for the second quarter, especially with regard to acquisition costs.
In the director’s view, despite these challenges, Sonangol maintains medium and long-term contracts that allow it to mitigate risks and ensure the stability of supply sources.
Regarding the recent rise in the price of a barrel of crude oil, Edson Pongolola considered it “advantageous” for the company’s business volume and for national production.
He also warned of the pressure that this increase exerts on the cost of production of refined products, both local and imported, requiring rigorous margin management to guarantee domestic consumption.
Regarding the cooking gas (LPG) segment, the oil company recorded daily sales close to two thousand metric tons, indicating a trend of stability compared to the same period of the previous year.
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