(Agence Ecofin) – Regularly in the top 3 of the largest crude oil producers in Africa, Angola, which left OPEC a few months ago, has relied heavily on local content standards to maintain its know-how. do on the continent.
The downstream segment of Angola’s oil and gas industry is now dominated by local companies. This is what emerges from information relayed on Friday October 11 citing the Institute for the Regulation of Petroleum Derivatives (IRDP).
According to the explanations of Luis Fernandes, head of the public body, Angolan companies represent 90% of the total market share represented by the downstream segment in the Angolan oil and gas sector.
He attributes this positive result to the impact, among other things, of the government’s commitment to promoting the development of local content through the IRDP and its initiatives which have successfully attracted investments.
With the projects under development in this segment, notably the refineries being installed in Cabinda, Soyo and Lobito, not to mention the expansion of storage capacity and the development of new service stations, Fernandes sees their contribution increasing .
According to the African Energy Chamber “Angola spends more than $1.7 billion annually on imports of petroleum derivatives despite vast oil reserves totaling approximately 9 billion barrels of oil and 11 trillion cubic feet of natural gas.”
Abdel-Latif Boureima
Read also:
07/29/2024 – Angola: new deadline announced for the launch of the Cabinda refinery
01/06/2022 – Angola wants to learn from the example of Nigeria in the context of the reform of its oil downstream
