Changes in oil sector intended to seek more competitiveness minister

Luanda The minister of Petroleum and Mining Resources, Diamantino Azevedo, affirmed last Wednesday in Cape Town, South Africa, that Angola has managed to make changes on the Oil and Gas sector aiming to make it more efficient and competitive in exploration, production and distribution lines.

In a press interview to the SABC TV South African Broadcasting Corporation Diamantino de Azevedo, who participates in the International Fair of Mining Resources ”Indaba Mining”, stressed the strategy of the sector is to increase the production, refining and distribution capacity of oil and its by-products.

Although the country produces more than 1.4 million barrels of petroleum/day, the minister recalled that the country also imports about 80% of its needs in terms of crude oil by-products, reason why it has been launched three projects for the construction of the refineries with the capacity of 200K, 100K and 60K barrels/per day in the provinces of Benguela, Cabinda and Zaire (Central and North region respectively).

In addition to the construction of three new refineries, he said the rehabilitation and expansion of the Luanda Refinery is also underway and when all these projects are operating in Angola it will be self-sufficient and the country will be able to export the surplus.

He informed that the other strategy has to do with the increase of the storage capacity on land, because currently most of the oil products are stored at sea.

Regarding the mining sub-sector, he recalled that the government launched the mapping programme for the entire mining sector years ago, the plan is in its final phase and by the end of the year the country will be able to announce the real capacity that the country has in terms of mining.

He said this is very important information for companies that come to explore mineral resources in Angola.

We have many exploration programmes underway, such as manganese, copper, iron and base metals.

He also informed being in contact with big companies of the mining sector, with a view to attracting them to operate on Angolan territory.

Regarding iron, the minister spoke about the iron mining project in Cassinga mines, a very advanced initiative that is being developed throughout its value chain, that is, from exploration to the transformation of ore into steel.

As for diamonds, along with the increase in production, he also announced the strategy of the expansion of diamond-cutting factories in the provinces where diamonds are exploited.

Source: Angola Press News Agency