Luanda refinery to quadruple gasoline output
The Luanda Refinery will augment its gasoline output by four times its current production due to a partnership agreement between Angola’s national fuel company, Sonangol, and Italian multinational oil company, Ente Nazionale Idrocarburi (ENI).
This announcement was delivered by Sonaref Chairman, Joaquim de Sousa Fernandes, at a press conference held by Sonangol on Monday.
As a result of the joint project between Sonangol and ENI, the refinery will produce 1,200 tons of gasoline by the end of 2021, quadrupling its current production of 300 tons. The increase is expected to reduce the current market deficit by 20 percent. The Luanda Refinery currently operates at 95 percent of its production capacity and is managed by Sonaref, a subsidiary of Sonangol.
According to Sousa Fernandes, the planning phase for the new production unit has already commenced, and the contract is expected to be awarded and construction initiated within the next few years.
Sousa Fernandes also announced that the United Shine consortium, which will operate the future Cabinda refinery, is currently in negotiations with a banking syndicate to secure financing for the project. The consortium is made up of United Shine (90 percent) and Sonaref (10 percent), and has been awarded the contract for the construction of the refinery by Sonangol. Construction is expected to be completed by the end of 2021.