Angola: Government Establishes Fuel Reserve for 30 Days

Photo: Pixabay
...

Luanda — The volume of oil by-products security reserves, such as petrol, diesel, JET-AI, JET-B and kerosene corresponds to 30 days, in order to prevent crises situations, reads a presidential order.

This measure of the Executive comes two months after the country experienced the second crisis in the supply of petroleum products this year and the public Sonangol firm justified, at the time, that the shortage of fuel in the main petrol stations was due to the alleged difficulty of access to foreign exchange, for the importation of oil by-products.

The presidential order, to which ANGOP had access last Monday and was published in the State Gazette, on January 1st, justifies the need to approve the quantities of petroleum products, to allocate the security and strategic reserves for the national market.

For butane gas (cooking gas), the holder of the Executive Power establishes that the volume of the security reserves must correspond to 20 days.

With a production of 1.49 million barrels of crude oil /day, Angola ranks second in sub-Saharan Africa, after Nigeria, at 1.7 million / day.

Angola produces only 20 percent of refined oil, with the remaining 80 percent being covered with imports.

In order to guarantee an increase in domestic fuel production capacity, a project is underway to build the Lobito refineries, with a capacity of 200,000 barrels a day and the Cabinda refinery with a capacity of 60,000 barrels per day, as well as there is focus on the need to increase the processing capacity of the Luanda Refinery, from the current 280 tonnes a day (330 cubic meters) to 1,000 tonnes.

Executive sets rules on refining activity

Another presidential order published in the Official Gazette of July 1 establishes the legal regime to which crude oil refining, importing, receiving, supplying, transporting, distributing, trading and exporting petroleum products are subject.

The law establishes the need to adapt to current legal requirements relating to crude oil refining, storage, provincial and regional logistics, distribution and marketing of petroleum products and export.

See What Everyone is Watching

More From: ANGOP

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.