A series of industry-wide reforms in Angola's oil and gas sector have created a more favorable regulatory environment for local and international companies to participate in the country's downstream sector.
In light of the upcoming large-scale oil and gas projects in Angola and the impending 2025 limited tender for exploration and development, the nation recognizes the paramount importance of enhancing the distribution of oil products. Consequently, Angola is implementing industry-wide reforms to not only attract new investments across its oil and gas sector but also to unlock a plethora of opportunities for both local and international stakeholders.
During the Angola Oil & Gas (AOG) 2024 pre-conference program, which precedes the main event on October 1, the Petroleum Derivatives Regulatory Institute (IRDP) will present an update on the regulatory landscape governing the nation's oil and gas downstream sector. As the regulatory body responsible for overseeing the importation of petroleum products in Angola, the IRDP will conduct a workshop dedicated to the country's downstream oil and gas industry, thereby setting the stage for prospective agreements and discussions during the main conference.
AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; national oil company Sonangol; the National Oil, Gas and Biofuels Agency; the African Energy Chamber; and the Petroleum Derivatives Regulatory Institute, the event is a platform to sign deals and advance Angola’s oil and gas industry. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
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. Three new refining facilities are currently under construction while the Luanda refinery completed an upgrade in 2022 – boosting gasoline production to 450,000 tons per year.
The first phase of the Cabinda Refinery (https://apo-opa.co/46sZEcb) – with a capacity of 30,000 bpd – will come online by the end of 2024. Construction is two-thirds complete, with full operational capacity for the first phase expected by mid-2025. The 100,000 bpd Soyo Refinery is also anticipated to come online in 2025 while the 200,000 bpd Lobito Refinery – poised to be Angola’s largest – expects operations to commence in 2026. Following the refineries’ completion, Angola’s capacity will increase to over 400,000 barrels per day (bpd), representing a major boost to the market.
In recent years, the Angolan government has implemented a series of measures to enhance the investment landscape, with regulatory reforms and supporting policies laying the foundation for billion-dollar deals in the oil and gas space. Instituted reforms include optimizing a focus on deepwater projects, offering attractive terms for onshore exploration and incentivizing local Angolan companies. Additional measures include the establishment of the New Gas Consortium to enhance gas exploration; restructuring the national oil company Sonangol; and the establishment of the IRDP.
Amidst regulatory reform, the IRDP-led Angola’s Downstream Potential technical session will provide attendees with a better understanding of the critical role that a practical, feasible and fair regulatory framework plays in efficiently developing the downstream sector. The institute will showcase the work happening to uphold the highest specification of oil products in the country and scientific projects in the pipeline. The session will also provide a full update on the state of the oil and gas downstream sector in Angola, taking into consideration the regulatory framework as well as the volumes and consumption of oil derivatives.
Don’t miss the opportunity to participate in this insightful and meaningful session. To register for the workshop and the AOG 2024 conference, visit https://apo-opa.co/