In the first edition of "Conversas sem Makas", an initiative by journalist and economist Carlos Rosado de Carvalho, minister Diamantino Azevedo presented an exhaustive review of his two terms in office with the portfolios of oil and mineral resources, since 2017, and stressed that mineral resources are "a blessing".
"Men are the ones who can turn them into a curse, according to the use they give them. Oil has already given a lot to this country", said the minister, in statements to journalists, considering that Angola should maximize the use of each barrel of oil "by doing it better and differently".
Diamantino Azevedo gave examples of sectors that Angola intends to develop, such as refining, petrochemicals and fertilizers, which could be other uses for oil, the main driver of the national economy, but he considered that, for this, "a well-defined strategy is needed" and to implement work that he considered should not be limited to the executive branch and should also involve businesspeople.
Regarding the government's objectives of stabilizing production at around one million barrels per day, he said that the government has managed to attract investment at a time when it is facing increasing challenges, such as competition from other producers, including in Africa, and the energy transition.
"What we have to do is be more attentive, work hard with investors, create an environment that is conducive to more investment (...). It is an ongoing task that we have to continue every day", he stated.
With regard to refineries, in addition to the one in Luanda, he stated that other projects are underway in Cabinda, Soyo and Lobito and acknowledged that there are some financing difficulties.
"There are difficulties, some endogenous, others exogenous, caused by the current international context, but we are here to face the challenges and bring the projects to fruition", he stressed.
In addition to the Luanda refinery, which began operating in the 1960s and whose capacity has since been quadrupled, the government planned to develop a refinery in Soyo, which was handed over to the US consortium Quanten, but which has not yet managed to secure the necessary financing.
The government has also faced difficulties with the Cabinda refinery, which was handed over to Gemcorp, with Sonangol's participation, and has already set several dates for its inauguration, with production expected to begin early next year.
Diamantino Azevedo said that Sonangol has "helped" with the financing and that the time will come when it will have a conversation with the promoter to review the terms of participation (currently, it is 10 percent).
As for the Lobito refinery, the largest, with a capacity to process 200,000 barrels per day, but whose construction has been interrupted several times, it currently belongs to the state-owned company Sonangol and has not yet resolved the financing issues.
"We are open to partners who want to be shareholders and contribute capital," he stressed.
The Oil Minister also said that the Barra do Dande ocean terminal will be completed in the second half of this year and announced the intention to build a gas cylinder factory in the complex, which should also house part of the hydrogen project.
The minister considered that the terminal, which will increase storage capacity by 300 cubic meters, is essential to implement the country's energy security reserve law, and will be complemented by "small storage facilities in the provinces".
