Could a new refinery change Angola’s oil industry?
Angola is rich in crude oil but has to import the fuel it needs. A new refinery could change that. Wearing a hard hat, safety glasses and high-visibility vest, project manager Martin Jooste gives a tour of the rain-sodden construction site that he oversees in the tiny Angolan exclave of Cabinda.
Does Angola have crude oil?
Angola has crude oil but is not processing it, Jooste told DW. "The whole idea [of the new refinery] is to make Angola less dependent on importing refined products." Angola, Africa’s second-biggest crude oil producer, pumps out some 1.1 million barrels of oil a day.
Is Angola still dependent on oil products from abroad?
"We are still very dependent on oil products from abroad," Angola’s Economy Minister Mario Caetano Joao told DW. "We make a lot of money with oil on the international market when prices are high. But … we import about 70% of petroleum products. So, we have to subtract what we spend on imports from what we make selling oil," he said.
How much oil does Angola produce a day?
Angola, Africa’s second-biggest crude oil producer, pumps out some 1.1 million barrels of oil a day. But the southern African nation on the Atlantic coast currently has only has one operational refinery, located near the capital Luanda.