November 2015

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HP Global: Angola targets drop in fuel imports with new refinery

Angola’s constrained crude oil refining capacity has forced the country to import up to 80% of its petroleum consumption, despite the southern African nation being the continent’s second-largest crude oil exporter with an estimated 9 Bbbl of proved crude oil reserves.

Oirere, S., Contributing Editor

Angola’s constrained crude oil refining capacity has forced the country to import up to 80% of its petroleum consumption, despite the southern African nation being the continent’s second-largest crude oil exporter with an estimated 9 Bbbl of proved crude oil reserves. However, government-owned oil and gas company Sonangol, which spent 4% of the country’s 2013 national budget on fuel subsidies, says the situation is likely to change soon with the construction of the 200-Mbpd Sonaref refinery in Lobito and the modernization of the existing topping/reforming Petrangol refinery in Luanda. The Petrangol refinery, which was built in the 1950s, has a processing capacity of 38 Mbpd and is operating

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