{"id":31362,"date":"2023-04-08T07:27:52","date_gmt":"2023-04-08T07:27:52","guid":{"rendered":"https:\/\/www.africa-press.net\/angola\/all-news\/angola-foresees-market-opening-for-oil-derivatives"},"modified":"2023-04-08T07:27:52","modified_gmt":"2023-04-08T07:27:52","slug":"angola-foresees-market-opening-for-oil-derivatives","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/angola\/all-news\/angola-foresees-market-opening-for-oil-derivatives","title":{"rendered":"Angola foresees market opening for oil derivatives"},"content":{"rendered":"

Africa-Press – Angola. <\/strong><\/span>Sonangol foresees the opening of opportunities to expand the export of oil derivatives in the Southern African market, with the completion of refineries under construction in the country.<\/b><\/p>\n

According to the chairman of Sonangol’s Executive Committee, Joaquim Kiteculo, the market has expanded since 2020, when South Africa began with the dismantling of the first four refineries that existed in the country, a process that continues, given that prospects -to dismantle the six, which will make that country start importing petroleum derivatives.<\/p>\n

Angola foresees a total processing capacity of 425 thousand barrels\/day of refined oil, with the implementation of the refineries in Cabinda, Soyo, Lobito and Luanda, the last one is already operational, after having been expanded and increased its production capacity .<\/p>\n

Speaking to the radio program Ngol, linked to the national oil company itself, Joaquim Kiteculo advances that of the 425 thousand barrels\/day of refined products to be processed, 225 thousand barrels will be for domestic consumption and 200 thousand will be reserved for export, with emphasis on the region from Southern Africa, covering countries such as Zambia, the Democratic Republic of Congo (DRC), Botswana, Tanzania and Namibia, countries where fuel is not subsidized.<\/p>\n

\u201cIn an initial economic technical feasibility study, it was the big countries to be received\u201d, he advanced, highlighting as an advantage the fact that in the SADC region almost all countries do not have fuel subsidies.<\/p>\n

\u201cWhich means that the price to be paid for petroleum products is the real market price, that is, determined by demand and supply\u201d, points out Joaquim Kiteculo, looking at such advantages as being a \u201cgreat breath of air \u201d for profitability of refinery projects.<\/p>\n

He added that the construction of the refineries obeys certain assumptions, such as the viability of the project.<\/p>\n

Works in progress<\/p>\n

The Soyo refinery, whose global investment is estimated at US$3.5 billion, is expected to be completed in 2025, when it will start processing 100,000 barrels of oil per day.<\/p>\n

As for the Cabinda refinery, with the capacity to process 30,000 barrels\/day, the first phase of construction work will be completed in December of the current year.<\/p>\n

The one in Lobito, with five proposals for investment, is expected to process more than 200,000 oil\/day, the largest of the three under construction.<\/p>\n

For More News And Analysis About Angola<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Angola. Sonangol foresees the opening of opportunities to expand the export of oil derivatives in the Southern African market, with the completion of refineries under construction in the country. According to the chairman of Sonangol’s Executive Committee, Joaquim Kiteculo, the market has expanded since 2020, when South Africa began with the dismantling of […]<\/p>\n","protected":false},"author":84,"featured_media":31361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,244],"tags":[233,337,329],"class_list":["post-31362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-angola","tag-angola"],"yoast_head":"\nAngola foresees market opening for oil derivatives - Angola<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/angola\/all-news\/angola-foresees-market-opening-for-oil-derivatives\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Angola foresees market opening for oil derivatives\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Angola. Sonangol foresees the opening of opportunities to expand the export of oil derivatives in the Southern African market, with the completion of refineries under construction in the country. 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