Fri, 28 Feb 2020 17:08 - Updated Fri, 28 Feb 2020 16:42
Angola reduces fuel imports by 12%
Luanda - Angola imported, last year, 2.97 million metric tons, against the 3.63 million metric tons registered in 2018, representing a reduction of 12 percent, Sonangol Chairman of the Board, Sebastião Martins informed the press last Thursday.
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Press conference on Sonangol 44th anniversary
Photo: Clemente dos Santos
The current crude oil refining capacity in the country is 80,000 barrels / day, representing 20 percent of the fuel consumed in the country, 65,000 of which are from the Luanda Refinery and 15,000 from the Malongo-Cabinda field, where it is refined Get-A1, Diesel and LNG Gas.
The Angolan Government wants to change this figure through a forecast of crude oil refining of 360,000 barrels of crude oil / day, through a gradual process until 2025, aiming at suppressing the current imports and the costs involving oil products, crude oil from abroad.
In order to achieve this goal, the completion of works (in 2025) of the future refineries in Lobito with a capacity of 200,000 barrels / day, in Soyo (100,000 barrels / day) and in Cabinda (60,000 barrels / day) the needs for production and supply possibilities in the national market will be compared to the current refining of only about 80,000 barrels / day, produced in Angola.
- 28/02/2020 13:07:23
Luanda - Sonangol registered in 2019 a net debt of over USD 1.2 billion, a value way below the USD 2.6 billion of 2018, which represents a variety of 53% of debt clearance possibility, according to the press report released last Thursday.
- 28/02/2020 09:49:03
Luanda - The state-owned oil company Sonangol will begin in April this year the privatization of eleven of the 54 assets it owns in whole or in part, a process that is in an advanced stage of preparation, its C.E.O Sebastião Martins announced last Thursday, in Luanda.
- 27/02/2020 19:11:03
Luanda - Sonangol intends by 2027 to be a reference company in the African continent and to hold 10 percent of the national production, going from the current 27,000 to 120,000 barrels per day, said its chairman, Sebastião Martins.