Angolan oil minister announces construction of refinery in Zaire province

20 July 2011

Luanda, Angola, 20 July – A refinery is due to be built in the Angolan province of Zaire in order to meet demand for oil derivatives in the Angolan market, Angola’s oil minister, Botelho de Vasconcelos said Tuesday in Luanda.

According to Angolan news agency Angop, the minister announced the decision during a discussion on the proposed law on refining, storing, transport, distribution and sale of oil products, approved by the National Assembly, Angola’s parliament.

Botelho de Vasconcelos said that the project, which is in the preliminary study phase and construction of the refinery in the Lobito municipal area, in Benguela province, was at a more advanced stage, showed the government’s focus on reducing current imports of oil derivatives.

In relation to the law under discussion in parliament, the minister said that it was the legal basis for liberalising the oil derivatives sector, which would lead to opening up the business to private companies.

Thus, he said, the new law would allow private companies that meet requirements to have access to the oil derivatives sector.

The document aims to provide a legal framework for the 195/09 resolution, of 19 November, which approved the Strategy for Liberalisation of the Fuel Sector in the country, and teh government plans to adopt new ways of organising, structuring, and new rules of access to equitability for all players in the fuel market, in order to make the model more effective and efficient. (macauhub)