Africa-Press – Cape verde. Angola, which is the second largest oil producer in sub-Saharan Africa, wants to improve its domestic capacity and become independent in terms of fuel distribution. The only existing refinery only supplies 20% of national demand.
According to the website Energy Capital & Power, currently, 80% of the country’s refined oil products are imported, costing Angola US$1.7 billion annually, to meet domestic demand.
Production levels are estimated at 1.22 million barrels per day.
With this reality in focus, the government is accelerating ambitions for energy security and fuel self-sufficiency.
Along these lines, with 8.2 billion barrels of own reserves, “there is a strong argument for the improvement of current facilities and for the construction of new refineries across the country”, says the same source.
Only 20% of domestic demand
Angola’s only operating refinery, the Luanda refinery, currently supplies only 20% of domestic demand, producing approximately 60,000 barrels per day (bpd).
However, he continues, the government intends to expand its capacity, with a $235 million project already under development, which will increase production to 72,000 bpd.
Save on import expenses
This transformation could save the country approximately $200 million in import costs.
“What’s more, the Ministry, through the national oil company Sonangol, is returning three new refineries located in Cabinda, Soyo and Lobito,” he said.
Overall, the Angolan government is targeting production of 360,000 bpd locally, giving priority to meeting domestic demand, while promoting socio-economic growth and industrialization.
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