Angola: Fuel Storage Capacity Exceeding 600,000 Metric Tonnes

Luanda — Angola with has storage capacity for liquid fuels at 675,968 metric tonnes (TM), the volume of purchases for the domestic market over the last six years has been around 21,241 MT, said Tuesday in Luanda Province the director general of the Petroleum By-Products Regulatory Institute (IRDP), Luís Alves Fernandes.

He presented these figures during the conference to take stock of its activities on the occasion of the institution's 6th anniversary.

Luís Alves Fernandes, made an explanation regarding the work developed by IRDP and pointed some sectors to that represent opportunities for possible investors in the sector.

He said that during the period in question, 11,669 authorisations were issued for importing oils and lubricants, 6,523 for marketing and 5,146 for consumption, which corresponds to 56% and 44% respectively.

Regarding the filling station, he said that in the first quarter of this year it was recorded that there are 900 stations in operation, while investment opportunities the official pointed to the construction and exploration of storage and oil pipelines, gas pipelines, networks and branches, the installation of piped gas and the construction of lubricant plants.

It also includes the construction and operation of containerised facilities for gas bottle filling, as well as the promotion of construction of filling stations with the aim to ensure fuel distribution capacity in all the country's municipalities by 2027.

On the other hand, the IRDP director emphasised the Angolan government's investment in projects to reduce fuel imports, with annual expenditure of around USD 2 billion.

He referred to the launch of the construction of three refineries, namely Cabinda (2024), Soyo (2028) and Lobito (2026), designed to process 60,000, 100,000 and 200,000 barrels/day respectively.

"Depending on our needs, the country spends around 2 billion dollars a year on fuel imports, especially diesel and petrol. We believe that this volume will guarantee self-sufficiency in locally produced by-products and thus reduce imports", he said.

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