Oil sector reforms in Angola aimed at attracting investors

The three-day conference aimed at setting reforms in the oil and gas sector across Angola has been going on at the country’s capital. Having been officially opened by Angola’s President Lourenço. The reforms did actually begin earlier this year, with the formation of the Angola National Agency of Oil and Gas-ANGP.

As reported by Oil Review Africa, President Lourenço pointed out major steps to guide Angola’s turning point from import dependency of oil derivatives to a more sustainable level.

According to President Lourenço, the development, and consolidation program of oil and gas, designed for the 2018-2022 National Development Plan comprises of three main objectives, namely to boost and intensify the replacement of reserves with a view to alleviating the sharp decline in production, ensure the self-sufficiency of refined products through the construction of new refineries and the expansion of the existing one as well as improve the networking distribution of fuels and lubricants throughout the national territory by increasing storage capacity.