The sale of hydrocarbons liberalized in Angola


Image: drillingcontractor.org

The Angolan Ministry of Mineral Resources and Petroleum announced that the marketing and distribution of hydrocarbon products in Angola has been completely liberalized.

The initiative is supported by the creation of the Oil Derivatives Regulatory Institute.

The Oil Sector Organization Model will be implemented by 2020 and will be looked after by an interim ministerial follow-up commission, comprised of the Ministry of Mineral Resources and Petroleum, the Ministry of Finance and Angola’s National Oil company Sonangol.

As part of the National Oil and Gas Agency (ANPG) announced this year and to be established in 2019, the model will take on the form of a national concessionaire and with the restructuring of Sonangol, it will focus primarily on oil and gas.

The concessionaire’s core entities will be transferred from Sonangol to ANPG, according to a schedule in which ANPG will become responsible for the organization.

Endorsed by the Ministry of Mineral Resources and Petroleum, Africa Oil & Power will organize the first Angola Oil & Gas conference, which will be held on June 3-7, 2019 in Luanda. Registration is now open.