Luanda - With the new gasoline production complex at the Luanda refinery inaugurated Wednesday, Angola will save USD 300 million per year as it will reduce gasoline imports by 15 percent, said the Minister of Mineral Resources, Diamantino Azevedo.
Speaking to the press, after the inauguration of the new Luanda Refinery Complex by the President of the Republic, João Lourenço, the minister noted that the complex would increase the refinery's production capacity four times, from 395,000 litres per day to over 1.5 million litres.
He noted that the National Development Plan (PND 2018-2022) for the oil sector included a target to ensure self-sufficiency of refined products through construction of new refineries and expansion of the Luanda Refinery.
The Cabinet minister said that, although the target for the goal determined that by 2022 construction of at least one refinery and expansion of the Luanda Refinery would begin, "we can announce that we have effectively started construction of the Cabinda, Soyo and Lobito refineries, and have started and concluded expansion of the Luanda Refinery.
With the start of operation of the complex, he said, the country would see significant gains, notably a substantial rise in gasoline production and an increase in the supply of the product on the domestic market, a reduction of imports and lower spending of foreign currency for the state, as well as an improvement in the quality of gasoline and environmental benefits.
