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Angola to increase its oil and fuel refining capability

Angola is planning to strengthen the its oil and gas refining capability to satisfy home power demand while lowering power imports and maximizing the monetization of vitality assets for regional and world markets – Minister of Mineral Resources, Oil and Gas, H.E. Diamantino de Azevedo has revealed.
Speaking at a gathering in Huambo province in the central region, the minister stated that constructing new refineries and modernizing current ones will allow Angola to maintain its vitality provide while decreasing costs incurred from energy imports. To date, a lack of infrastructure has resulted in Angola spending over $1.7 billion on oil imports per annum to meet domestic power needs despite the nation boasting eight.2 billion barrels of proven oil reserves and an estimated thirteen.5 trillion cubic ft of pure gas reserves.
เกจวัดแรงดันแบบแห้ง has just one operational refinery, the Luanda Refinery, operated by energy firm, Fina Petroleos de Angola, and national oil company, Sonangol, processing as a lot as 65,000 barrels of crude oil per day (bpd). A $235 million venture, however, is underway to broaden the Luanda refinery to seventy two,000 bpd – a growth which the Ministry of Mineral Resources, Oil and Gas says will help Angola save $200 million in energy export prices.
MIREMPET is also developing two new facilities which include a $920 million plant in Cabinda to increase Angola’s refining capacity by 60,000 bpd in addition to a one hundred,000-bpd refinery in Soyo city – by which the ministry awarded US-based Quanten Consortium Angola the tender to assemble.
In addition, a 200,000-bpd refinery is being developed in Lobito province with Sonangol having chosen Japanese conglomerate, JGC Holdings, to offer required services. With the Russia-Ukraine tensions inflicting a spike in oil prices, boosting Angola’s oil and gas refining capacity may even reduce Angola’s vulnerability to unstable global energy costs.
Moreover, with new tasks similar to Eni’s Ndungu early manufacturing venture and TotalEnergies’ CLOV Floating Production, Storage and Offloading unit, increasing Angola’s manufacturing and refining capacity will allow Angola to maximize the monetization of its power sources. As a result, Angola will expand the trading of ready-to-use fuels with Europe because the bloc seeks different power suppliers to scale back reliance on Russian assets.
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