Angop - Agência de Notícias Angola Press

Minister wants effective use of Pumangol fuel base

Fri, 08 Nov 2019 19:49 - Economy

Luanda - Minister of Mineral Resources and Oil, Diamantino Azevedo, called on Friday for an urgent agreement between Sonangol and Pumangol for the start of the effective use of Pumangol's fuel base in Luanda.

  • Minister of Mineral Resources and Oil, Diamantino de Azevedo.

Speaking to journalists, after a successful meeting with the management of the two companies, the official wants to see both parties fulfill the promises made during the meeting.

The US $ 500 million investment base, where Sonangol holds close to 27%, has a storage capacity of close to 300,000 cubic meters of petroleum products, being used at only 20%.

According to the Minister, these are modern facilities that are practically unused.

“The process of using the facility has begun at a very low level, but we have been promised that by April 2, 2020, everything will be completed and the facility will be used within its full capacity” , he said.

According to him, the State spends more on the use of floating storage than on land, considering the storage capacity at sea is still considerable, around 340.000 cubic meters.

In his turn, Sonangol's CEO, Sebastião Martins, said that increasing production has to do with the tasks that must be performed upstream and that the State is doing as a national company to identify the areas that have potential for increase production levels.

On the other hand, Pumangol's Managing Director Patrício Echavago ensures that, due to infrastructure, technology and capabilities, he has been investing heavily in human capital, with its workforce and management teams being largely Angolans.