16 November 2017

Angola: President Recommends Strategies for Oil Products Refining Process

Luanda — Angolan head of State João Lourenço recommended Thursday the need for implementing a strategy allowing the internal refining of oil by-products.

Addressing a swearing in ceremony of the State Secretary for Oil and Board of Directors of Sonangol, the president said the strategy is meant to prevent the country from relying heavily on imported refined oil products.

"It makes no sense the country, as an oil producer, and with high levels of production, continue depending on the import of refined products," said João Lourenço.

The Head of State said that apart from Luanda Refinery, whose daily refining capacity stands at around 44,000 barrels, it is crucial that the country bets on the construction of another one, either public or private investments.

Both possibilities must remain open. We want the country to have more refineries, stressed the Statesman.

The president, who described the sector as still being the backbone of the country's economy, said the government will demand greater responsibility from the new managers.

"You must take good care of it," said the President to the members of the Board of Directors of the national oil company sworn in on Thursday.

New members of Sonangol board:

Paulino Fernando de Carvalho Jerónimo - State Secretary for Oil

Carlos Saturnino Guerra Sousa e Oliveira - Sonangol CEO;

Sebastião Pai Querido Gaspar Martins - Executive director

Luís Ferreira do Nascimento José Maria - Executive director

Carlos Eduardo Ferraz de Carvalho Pinto - Executive director

Rosário Fernando Isaac - Executive director

Baltazar Agostinho Gonçalves Miguel - Executive director

Alice Marisa Leão Sopas Pinto da Cruz - Executive director

José Gime - non Executive director

and André Lelo - non Executive director

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