The IRDP has been instrumental in stabilizing Angola’s petroleum market by balancing petroleum imports and local refining. While the country’s resources have historically been exported as unprocessed crude, national efforts to enhance value addition through the development of downstream infrastructure is set to turn this trend around. As the country seeks to improve consumer access to quality and affordable petroleum products for economic sustainability, the IRDP is spearheading investment efforts.
“The IRDP is focused on encouraging market players to build new privately-owned petrol stations, set up lubricant production plants, install butane gas piping networks in buildings with more than five floors and build gas filling facilities. These are investment opportunities aimed at improving the distribution of fuel and other oil derivatives in Angola,” states Fernandes. “At this conference, rather than giving an overview of the sector and launching an appeal to national and foreign businesspeople to invest in oil products, we will discuss Energy Security, Decarbonization and Sustainable Development in the Angolan Downstream in line with the central theme.”
Currently, the IRDP – under the leadership of Fernandes – is making great strides towards expanding Angola’s refining capacity through several large-scale projects. Three new refining facilities are currently under construction – Cabinda, Lobito and Soyo – while the Luanda refinery is undergoing an upgrade. Following the refineries completion, Angola’s capacity will increase to over 400,000 barrels per day, representing a major boost to the market.
Under the theme, ‘Energy Security, Decarbonization and Sustainable Development,’ AOG 2023 will feature high-level panel discussions on the state of play of Angola’s oil and gas sector, including exploration and production, downstream developments, and the integration of renewables.
AOG 2023 returns to Luanda for its fourth edition on 13-14 September 2023 under the auspices of the Ministry of Mineral Resources, Oil and Gas, and in partnership with the National Oil, Gas and Biofuels Agency, IRDP, Sonangol and the African Energy Chamber. For more information, visit www.angolaoilandgas.com