Tuesday , April 20 2021

Sonangol launches today a state oil recovery program

Participation in the program will be held at Talanton University of Technology's Technical Faculty (ISPTEC) in the Luanda South zone, which will be chaired by Sonango's Carlos Saturnino Supervisory Board.

On August 15, João Lourenço ordered the establishment of the National Petroleum and Gas Agency (ANPG) and ended the Sonangol monopoly in Angola's oil company, which aims to focus solely on the hydrocarbons sector.

The ministers of oil and mineral resources in Angola, Diamantino Azevedo and Finance, Archer Mangueira announced their decision by presenting the results of the restructuring group on the oil industry, which was set up on 21 December 2017. Angolan President.

Eleven days later, on August 26, João Lourenço approved the restructuring program for the state oil company in Angola, which states that the measure also aims to find solutions that can contribute to the sustainability of the oil industry in Angola, focusing on its focus.

According to the document, the purpose of the program is to make Sonangol "more competitive and more profitable", focusing on the primary value chain and meeting international quality, health, safety and environmental standards that will improve the oil performance in Angola and increase and enhance operations to replace stocks and increase hydrocarbon production in the medium and in the long run.

The program also seeks to promote the search, research, development and production of natural gas to ensure domestic use and exports, and to increase the share of domestic crude oil production by strengthening Sonangol Research and Production, thereby enhancing it.

On the other hand, it also aims to promote and encourage "strong industry to support the oil industry", increasing domestic refining capacity to reduce dependence on imports.

Concentrating the refining, transportation, storage and trading of refined products to focus on improving fuel market efficiency and market liberalization and optimizing the organizational development of human and technological capital to increase Sonangol's productivity are the other two remaining goals.

The new agency will transfer Sonangol's resources to ANPG during the first three implementation cycles – the transition phase (December of this year), the transition from January to June 2019 and the optimization and transition (July 2019 to December 2020).

At the same time, in August and in the second decree, João Lourenço also made a follow-up commission for the republication of the Oil Refining Commission, coordinated by the Angolan Minister for Minerals and Petroleum, Diamantino Azevedo.

João Lourenço states in the Regulation that the Commission is in force until 31 December 2020 and that it has to submit quarterly reports on the activities developed by the President to the Republic.

At the time of the publication of the establishment of the new agency, the government explained that the main objective of the proposed model is to put an end to the conflict of interest in Angola's industry to make it "more transparent and more efficient".

"Sonangol's restructuring reduces its exposure to non-nuclear power plants in the context of industrial restructuring, which clearly defines the separation of business groups in the group (?), Focusing on oil activities, production, processing and distribution," said Archer Mangueira, Angola.

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