Luanda- Angola’s minister of State for Economic Coordination José de Lima Massano has considered the weight of the oil and gas sector in the national economy crucial for the transformation of Angolan society.
In Angola, the oil sector is accounted for 95% of exported products and 30% of gross domestic product (GDP).
In terms of exports, in 2022, the country sent 391 million barrels of crude oil at an average price of 101,992 dollars, resulting in gross revenue of USD 39.94 billion.
Looking at the army's ongoing diversification of the economy, Lima Massano also said that the sector has a relevant role in the most varied areas.
Delivering his speech at the opening of the International Conference on Oil & Gas held Wednesday in Luanda, the minister admitted that, in the case of Angola, the sector is one of the fundamental “pieces” for the transformation of the economy and society.
José de Lima Massano expressed his commitment to providing all necessary support to ensure a permanent economic diversification actions, with the participation of oil companies.
“We will continue making the necessary investments in natural resources, including oil resources, so that they can be explored”, he said.
Aware of the challenges that arise, such as the preservation of the planet, he said that oil activity will still influence the process of greenhouse gas (GHG) emissions, the current approach of which is to reduce them.
In this sense, he highlighted the projects already underway to reduce greenhouse gases, with emphasis on clean energy, both hydro and solar.
Gradualy, he continued, Angola is changing its energy matrix with a series of investments in electricity generation alternatives, allowing the population to have access to energy resources.
“This greenhouse gas reduction exercise also has to be done consciously and in accordance with the reality of each country”, he defended, maintaining that Angola maintains its firm commitment to reductions.
The event was attended by the secretary general of the Organisation of Petroleum Exporting Countries (OPEC) Haitham al Ghais, Minister of Hydrocarbons of the DRC Didier Ntubuanga and representatives of multinationals.
The event, an initiative of the Angolan Ministry of Mineral Resources, Oil and Gas, brings together more than 275 participants, represented by 45 countries. NE/NIC
