Angola is boosting vitality safety by growing three new refineries, rising capability to 400,000 barrels of oil per day (bpd). The Cabinda refinery will probably be commissioned by the tip of 2024, adopted by the Lobito Refinery and Soyo Refinery from 2025 onwards. In the meantime, upgrades to the nation’s sole operational refinery, the Luanda refinery, represents a significant increase to Angola’s downstream sector.
In the course of the Angola Oil&Gasoline (AOG) 2024 pre-conference program – going down forward of the principle occasion on October 1 – specialist consulting firm CITAC Africa will current a workshop entitled Demand and Provide Tendencies for Refined Merchandise in Africa. Led by CITAC Africa’s Government Director Elitsa Georgieva, the session will present detailed perception into the evolving downstream business in Africa.
AOG is the biggest oil and fuel occasion in Angola. Going down with the complete help of the Ministry of Mineral Sources, Oil and Gasoline; nationwide oil firm Sonangol; the Nationwide Oil, Gasoline and Biofuels Company; the African Vitality Chamber; and the Petroleum Derivatives Institute, the occasion is a platform to signal offers and advance Angola’s oil and fuel business. To sponsor or take part as a delegate, please contact sales@energycapitalpower.com.
Whereas the continent’s refinery throughput dropped as little as 365,000 bpd in Q3, 2023, sub-Saharan Africa’s refining sector is presently witnessing a big rebound. Oil product imports within the continent have elevated by 60% over the previous decade whereas clear merchandise internet shortfall is anticipated to slender considerably from 78.4 million tons in 2023 to 55.9 million tons in 2026. This comes on account of refining tasks approaching stream and reaching full capability.
Efforts to maximise the event of oil and fuel assets has led to a wave of downstream developments in Africa’s greatest producing markets. In July, Nigeria’s Dangote Refinery started talks with the governments of Angola and Libya to safe a steady provide of crude oil for its 650,000-bpd processing plant. Located close to Lagos, the $20 billion refinery is the biggest in Africa and goals to take away Nigeria’s dependence on imported gas.
In the meantime, in an effort to drive South Sudan’s downstream capabilities, the nation’s nationwide oil firm Nilepet is looking on traders to safe funding for the completion of an oil refinery in Block 5A. The undertaking has amassed a complete funding of $29 million, with the refinery’s estimated preliminary prices presently standing at $3 billion. Completion of the proposed refinery is anticipated to double the nation’s oil manufacturing to 350,000 bpd whereas catering heavy gas oil to potential markets in Kenya, Uganda and the Republic of the Congo.
Amid this development, CITAC’s AOG 2024 pre-conference technical session will showcase how main refining tasks comparable to these in Angola are radically altering the outlook for the sector and the buying and selling setting on the continent. Attendees will acquire perception into how robust inhabitants and financial development will quickly improve vitality demand in Africa within the coming years and the way this demand will have to be met by a number of vitality sources – with oil and fuel on the forefront.
The workshop is of strategic worth to authorities and personal sector stakeholders, state-owned vitality regulators, downstream oil market gamers and finance establishments, funding banks, lenders and tasks builders.
Don’t miss the chance to achieve strategic perception from business consultants.
To register for the workshop and the AOG convention, go to https://apo-opa.co/4drkSJB or contact us at sales@energycapitalpower.com. Entry the preconference technical program right here (https://apo-opa.co/3WJEIdz).
Distributed by APO Group on behalf of Vitality Capital&Energy.