Page 16 - DMEA Week 43 2022

DMEA NEWS IN BRIEF DMEA

business new africa bna/IntelliNews

Many of sub-Saharan Africa’s leading oil and gas 900 cubic metres, and construction of the Barra There are currently four major fuel distributors
producers have, somewhat ironically, a domestic do Dande Ocean Terminal, which will create in Angola – Sonangol, Pumangol, Sonangalp
downstream sector that is not sufficient to meet floating storage of oil products and includes a and TotalEnergies – with room in the market
local demand for gasoline, diesel, kerosene and mooring dock for maritime vessels. The latter for new players. With greater liberalisation
other oil derivatives. Angola is no exception – will enable Angola to expand its capacity to expected, the market will see increased competi-
the country currently imports 80% of its refined store petroleum products and better serve the tion and efficiency, resulting in improved access
petroleum products. Accordingly, the govern- country’s various provinces around the coun- to fuels at a lower price. The implementation of
ment is addressing downstream inadequacies try, particularly in the eastern region. To further fuel and lubricant onshore storage facilities and
through the expansion of refining capacity, improve access and availability of fuel, Angolan the construction of gas stations, lubricant facto-
which will reduce costly fuel imports and posi- authorities are prioritising the construction of ries, gas networks and branches remain strate-
tion Angola as a secure and independent energy fueling stations around the country, with the gic investment opportunities in Angola for the
producer. Once production ramps up from these Regulatory Institute of Oil Derivatives com- period 2022-2030.
developments, Angola will be able to export pleting its National Mapping of Service Stations By revamping, modernising and liberalising
refined petroleum products and associated pet- project, of which the country currently has 876. its downstream industry, the Angolan economy
rochemicals to neighboring countries, including By the end of 2022, Angola aims to have 891 fuel is set to become more lucrative and competitive–
the Republic of the Congo, Zambia, Cameroon stations in its portfolio. not only because of the additional source of state
and the Democratic Republic of the Congo. In addition to the sheer increase in refining, revenue, but also because public funds will no
The Angolan Government is also spearhead- storage and distribution capacities, Angola has longer be used to subsidise fuel prices.
ing development with regards to energy storage been pursuing the progressive liberalisation of This article is from the publication Energy
and distribution, along with expansion of the the downstream sector, starting with Presidential Invest: Angola, which will be distributed at the
number of filling stations across the country. Key Decree 208/19 that established the legal regime upcoming Angola Oil & Gas (AOG) 2022 Con-
upgrades to Angola’s fuel distribution network governing the activities of importing, receiving, ference & Exhibition, taking place on November
include the inauguration of the Saurimo Fuel supplying, storing, transporting, distributing, 29-December 1 in Luanda.
Storage Plant, which has a storage capacity of marketing and exporting petroleum products. Energy Capital & Power, October 26 2022

P16 www. NEWSBASE .com Week 43 27•October•2022