Business
Angola Oil & Gas (AOG) 2022 to Examine Best Approaches for Angola to Achieve Fuel Self Sufficiency
The third edition of Angola Oil & Gas to investigate policy reforms, investment initiatives and infrastructure deployments adopted by the southern African country to ensure fuel self-sufficiency
LUANDA, Angola, October 28, 2022/APO Group/ —
The upcoming Angola Oil & Gas (AOG) 2022 conference and exhibition (https://bit.ly/3sButIz) – Angola’s official meeting place for energy policymakers, companies and investors – which runs from November 29 – December 1, will explore the best approach Angola should implement to ensure fuel self-sufficiency.
With a total oil output of 1.17 million barrels in August, according to the Organization of Petroleum Exporting Countries (OPEC), Angola has retained Africa’s biggest oil producer status since May, and with the country strongly expanding its natural gas production, is set to shape the global energy transition. However, the southern African country’s refining capability remains way below its domestic consumption with over $2 billion spent on petroleum imports to meet local demand per annum.
Market Growth Necessities
In this regard, massive investments in upstream, midstream and downstream activities and in infrastructure rollout, including refineries, and further reforms to existing policies and fiscal terms is therefore essential to maximize exploration, production and the exploitation of the country’s vast yet untapped hydrocarbon resources to ensure fuel self-sufficiency.
With major downstream projects, such as upgrades to the existing Luanda refinery and the development of three new refineries in Soyo, Cabinda and Lobito underway, improved use of public-private partnerships is crucial for the country to gather the massive capital required to accelerate and complete projects deployment.
During a panel discussion, exploring investment opportunities across the Angolan energy market, held at the African Energy Week conference (https://bit.ly/3SJcieE) in Cape Town, Osvaldo A. Inácio, Executive Board Member at Sonangol (https://bit.ly/3NflrKE) , said “In 2021, we secured 4.2 million tons of refined products to meet local demand. Angola has been importing a lot of refined products and we want to change that. The three new refineries will be a game changer and will add 450,000 barrels of energy per day. We are looking for investors interested in joining us and we are grabbing partners as we go because the country really can’t wait any longer. We had a good conversation with Afreximbank about financing partnership.”
The three new refineries will be a game changer and will add 450,000 barrels of energy per day
Regime Optimization and Financing Fuel Self-Sufficiency
The continued modernization of the regime which includes reductions in petroleum taxes for market players and the creation of the Agency for Private Investment and Promotion of Exportations in 2018 is a huge testimony of the government’s commitment to attract more foreign direct investment and accelerate private sector participation to make the journey to fuel self-sufficiency shorter.
Moreover, the Angolan government’s stance of leveraging financing cooperation with regional governments to accelerate the rollout of midstream and downstream infrastructure could be a game changer – having signed a Memorandum of Understanding with Zambia (https://bit.ly/3Dk4t9x) to cooperate on the Lobito Refinery project in April, 2022 and implementing a feasibility study for the two countries to jointly develop the Angola/Zambia Oil Pipeline.
Furthermore, Angola’s joining of the Extractive Industries Transparency Initiative (https://bit.ly/3gQ5lLB) in June, 2022 will not only enable the country to reinforce anti-corruption efforts, reform the operations of national oil and gas agencies but will also the business environment and investment climate and, in the process, attract private sector investments required to maximize operations across the entire oil and gas value chain for the country to ensure fuel self-sufficiency.
In addition, by addressing delays previously incurred in signing and renewing exploration and production contracts, and by optimizing local content requirements, Angola is set to see an influx in oil and gas companies and upstream investments and be able to achieve fuel self-sufficiency.
Moreover, with the Agência Nacional do Petróleo, Gás (ANPG) set to grant licenses in onshore and in interior basins to 12 blocks in 2023 and auction more than 11 blocks in pre-salt fields in 2025, Angola is set to become an exploration hub and be able to increase energy production to meet growing local demand as output is currently being disrupted by natural declines in legacy projects despite the country becoming Africa’s largest oil producer.
Keen to find out about how Angola seeks to fast track its energy developments for fuel self-sufficiency? Then AOG presents the best platform for you to engage with the country’s regulatory authorities and key energy market players.
Distributed by APO Group on behalf of Energy Capital & Power.
Events
As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world
The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation
Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.
Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.
The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.
“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.
“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”
The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.
Key challenges driving the debate
Core focus areas for this year’s edition of The Africa Debate include:
This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy
Global Realignment & New Partnerships
How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.
Financing Africa’s Future
The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.
Strategic Value Chains
Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.
Digital Transformation & Technology
Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.
The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.
Registration is now open (http://apo-opa.co/46b19gj).
Distributed by APO Group on behalf of Invest Africa.
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