Angola expected to refine 300 million barrels of oil per day in 2025

17 December 2019

Angola is expected to refine 300,000 barrels of crude oil per day within five years through a gradual process until 2025 intended to reduce current imports of liquid fuels and the consequent expenditure in foreign currency, said the chairman of Angolan oil company Sonangol.

Sebastião Gaspar Martins also said that following the completion of construction work this year at the refineries in Lobito (200, 000 barrels per day, Soyo (100,000 barrels per day) and Cabinda (60,000 barrels per day) Angola will adjust supply to demand in the domestic market, which is not currently adjusted because the country is only refining 80,000 barrels of oil per day.

In statements on the sidelines of the 4th Consultative Council of the Ministry of Mineral Resources and Oil, held in Cabinda, the chairman said that the 80,000 barrels per day are split between 65,000 at the Luanda refinery and 15,000 in the Malongo-Cabinda field, which produces Jet A-1, diesel and liquefied natural gas.

Angolan news agency Angop reported that the Lobito refinery is expected in 2021 to process half of its planned capacity, while the Cabinda refinery will produce, in that same year, 30,000 barrels per day, so that by 2024 (with the completion of the 2nd phase) it can reach its total of 60,000 barrels per day.

Gaspar Martins also said that Sonangol, with the exception of Blocks 15 and 17, is present in every other production block in Angola, being responsible for about 17% or 235,000 barrels per day of the total 1.4 million barrels per day currently produced in Angola. (macauhub)