Angola’s sole refinery has undergone a deep refurbishment to meet the country’s goals of becoming less dependent on imports and improving local capacities. Sonangol teamed up with Eni to develop the project, which marks the beginning of a refining revolution in the country as other major projects move towards completion.
WIDER IMPACT: Prior to the USD 235-million expansion project, lack of investment in the country’s oil and gas infrastructure caused Angola to spend more than USD 1.7 billion on oil imports per year to meet demand, despite its large reserves of 8.2 billion barrels of proven oil and 382 bcm (13.5 tcf) of gas. The new facility alone is expected to save around USD 300 million per year on petrol imports by lowering Angola’s reliance by 15%.
In addition, the upgrade moves the dial up on the country’s know-how in the refining field. “Many Angolan staff and technicians participated in the construction of this new catalytic reform unit and its inauguration will create new direct and indirect jobs that will greatly contribute to the improvement of the living conditions of our population,” Minister of Mineral Resources, Petroleum and Gas Diamantino Pedro Azevedo told local press.
NEW FUEL FOR THE FIRE: While the upgrade is a large piece in the puzzle for the country to become self-reliant, it is not the only downstream development in the works expected to have a large impact. The Ministry of Mineral Resources, Petroleum and Gas is also working on three new refineries in Cabinda, Soyo and Lobito that will raise the country’s refining capacity to 360,000 bpd.
The USD 1-billion Cabinda Refinery is being developed in three phases with a final refining capacity of around 60,000 bpd. Construction of the Soyo Refinery began in May 2022, with a planned refining capacity of 100,000 bpd. Finally, the Sonaref Refinery in Lobito will have the capacity to produce 200,000 bpd. These downstream projects combined are set to revolutionise Angola’s economy by lowering its dependence on foreign refining power and modernising its workforce.
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