Luanda:In response to a natural decline in domestic crude output, Angola is intensifying its exploration strategies to rejuvenate the critical oil sector, as announced by Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo. The announcement was made during a visit by Namibian President Netumbo Nandi-Ndaitwah to the Luanda Refinery.
According to Angola Press News Agency, the minister detailed an ambitious plan aimed at revitalizing the hydrocarbon sector. Over the past five years, Angola has awarded 72 new oil blocks, with contracts active for 50 of them. Challenges in production have been ongoing since 2014, influenced by global economic conditions and internal issues.
To address these constraints, the government implemented significant legal and fiscal reforms in 2017, establishing key bodies like the National Agency for Petroleum, Gas and Biofuels (ANPG) and restructuring the state energy firm Sonangol.
Despite being a major crude producer in Africa, Angola imports about 70% of its gasoline and diesel needs. To improve self-sufficiency, authorities are advancing major infrastructure projects, including the Cabinda Refinery, which aims for a capacity of 60,000 barrels per day; the Soyo Refinery, designed for 100,000 barrels per day; and the Lobito Refinery, targeting 200,000 barrels per day with construction at around 30% completion. The minister also invited Namibia to join the Lobito project as a regional partner.
In addition to crude oil expansions, Angola is advancing natural gas development. The Natural Gas Master Plan, approved in December 2024, will see the New Gas Consortium supplying the Angola LNG terminal, the Soyo Thermal Power Plant, and future industrial projects focused on petrochemicals and fertilizers. The government is also investing in technical training and research at institutions like the Sumbe Petroleum Institute, supporting renewable energy and critical minerals for the energy transition.
