Africa Oil & Gas: “Angola should refine the fuels it consumes” – President

Angola LNG Soyo tanks at dusk

Angola should refine the fuels it needs, and it does not make sense for it to depend on imports of oil derivatives, said on Thursday in Luanda the new President of Angola João Lourenço.

“It makes no sense that Angola, as an oil producer with high levels of production, continues to live almost exclusively on imports of refined products,” said Lourenço, quoted by the local press.

The President also said that, in addition to the Luanda refinery, whose refining capacity is around 44,000 barrels per day, the country must invest in the construction of another one, regardless of whether the investment is public or private.

“The two possibilities must remain open, and we intend for the country to have more refineries,” said Lourenço during the inauguration ceremony of the new Secretary of State for Oil and the new Board of Directors of Angolan state oil company Sonangol.

Angolan newspaper O País reported that the dismissal of the previous board of directors of Sonangol was due to the findings of a report presented to the head of state by a working group, created in October, after complaints from the international oil companies operating in Angola.

The report concluded that the Angolan oil sector is at a standstill, due to bureaucratic and inefficient management processes, which are Sonangol’s responsibility as the national concessionaire.

The working group was made up of the ministers of oil and finance and representatives of Sonangol, BP Angola, Cabinda Gulf Oil Company (Chevron) Eni Angola, Esso Angola, Statoil Angola and Total E&P. (source: macauhub)

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