Ver Angola


Government wants internationally competitive refineries, says Diamantino Azevedo

The Government, which will gradually remove gasoline subsidies, "wants to have real prices" in a market economy and increase fuel production, with the construction of internationally competitive refineries, said the Minister of Petroleum.


Diamantino Azevedo was speaking this Thursday, in Luanda, at a press conference where the reform for the energy sector was presented, with the gradual withdrawal of the fuel subsidy.

As of Friday, the price of gasoline will increase, rising from the current 160 to 300 kwanzas per litre, leaving out some professional classes such as taxi drivers and motorcycle taxi drivers who will not be covered by the measure.

Currently, the existing refineries in Angola cover only about 20 percent of the needs for oil derivatives, said the Minister of Mineral Resources, Oil and Gas, adding that the executive's strategy to increase fuel production involves tripling production at the Angolan refinery Luanda and build another three, projects already underway.

The Cabinda refinery has suffered "a delay in production that derives from endogenous and exogenous factors", such as the covid-19 pandemic, and in Soyo, another of the main oil production areas, another facility is being developed, a project that it is "in full development", according to the official.

In Lobito, the Government decided to reactivate an existing project, but revised the investment costs, which "were reduced by almost half" and the "quality of the 'standard'", taking into account the energy transition, continued.

When these four projects are ready, he said, the country will be able to process 420,000 barrels per day, guaranteeing self-sufficiency and the ability to export derivatives, essentially to neighboring countries.

"The aim is to have internationally competitive refineries, this means avoiding price distortions in our economy, having real prices, in accordance with a market economy. Only then will we have refineries operating profitably and being competitive", stressed the same official, considering that "there will be gains for the economy, for the country and for the users".

In addition to the "positive effects" for the economy of the construction of refineries, the executive also wants to increase the storage capacity of fuel on land and is working on the approval of legislation on strategic reserves and national security related to oil derivatives.

Diamantino de Azevedo also spoke about the projects for filling gas, green hydrogen, photovoltaics, wind energy and biofuels, which will contribute, together, to improve the fuel supply capacity for the country and for export.


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