ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Economy

Tue, 09 Jul 2019 10:24 - Updated Tue, 09 Jul 2019 13:49

Government establishes fuel reserve for 30 days

Luanda - The volume of oil by-products security reserves, such as petrol, diesel, JET-AI, JET-B and kerosene corresponds to 30 days, in order to prevent crises situations, reads a presidential order.

Send by email

To share this news by email, fill out the information below and click Send

Correct

To report errors in the texts of articles published, fill out the information below and click Send

Fuel: Government adopts preventive measures to avoid crises

Photo: Bráulio Pedro


This measure of the Executive comes two months after the country experienced the second crisis in the supply of petroleum products this year  and the public Sonangol firm justified, at the time, that the shortage of fuel in the main petrol stations was due to the alleged difficulty of access to foreign exchange, for the importation of oil by-products.


The presidential order, to which ANGOP had access last Monday and was published in the State Gazette, on January 1st, justifies the need to approve the quantities of petroleum products, to allocate the security and strategic reserves for the national market.


For butane gas (cooking gas), the holder of the Executive Power establishes that the volume of the security reserves must correspond to 20 days.

With a production of 1.49 million barrels of crude oil /day, Angola ranks second in sub-Saharan Africa, after Nigeria, at 1.7 million / day.

Angola produces only 20 percent of refined oil, with the remaining 80 percent being covered with imports.


In order to guarantee an increase in domestic fuel production capacity, a project is underway to build the Lobito refinery, with a capacity of 200,000 barrels a day and the Cabinda refinery with a capacity of 60,000 barrels per day, as well as there is focus on the need to increase the processing capacity of the Luanda Refinery, from the current 280 tonnes a day (330 cubic meters) to 1,000 tonnes.


Executive sets rules on refining activity


Another presidential order published in the Official Gazette of July 1 establishes the legal regime to which crude oil refining, importing, receiving, supplying, transporting, distributing, trading and exporting petroleum products are subject.


The law establishes the need to adapt to current legal requirements relating to crude oil refining, storage, provincial and regional logistics, distribution and marketing of petroleum products and export.


 

Tags Petróleos  

Read also
  • 03/07/2019 11:00:43

    OPEC maintains oil output cut until March

    Luanda - The Organization of Petroleum Exporting Countries (OPEC) and its partners decided to extend until March 2020, the cut on oil output approved in December last year.

  • 25/06/2019 19:01:41

    Bumbar Mining holds 1st forum for mining leadership

    Luanda - The first mining business leadership forum "Angola Mining Talks" will be held this Wednesday in Luanda, with the objective of assessing the context of the local mining industry and inferring about the challenges faced by managers to keep viable and sustainable companies in Angola.

  • 18/06/2019 13:24:45

    BP reduces polluting gases emission in oil exploitation

    Luanda - The multinational oil and gas firm British Petroleum (BP) Angola reduced its emission and burning of polluting gases from 60 million to 4 million cubic feet, making the company’s activity less harmful to the environment.