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Angola: Half of country’s fuels stored at sea

Half of the country’s 700,000 cubic meters of the petroleum products are stored in floating reservoirs, instead of being on land that is believed to be more effective in reducing costs.

The entry of new operators into the logistics sector of these products is seen as one of the measures that ensure increase of land stocks, judging the low price, said Manuel Ferreira, director general of the Oil Derivatives Regulatory Institute (IRDP).

Manuel Ferreira was speaking to the press at the end of a working visit to the  Pumangol logistics facilities, in São Pedro da Barra neighborhood.

In order to reverse the current situation, he said that the IRDP is working with the operators of the sector ( Sonangol and Pumangol) on transforming the floating stock into storage on land, aiming at reducing the costs.

According to the director, the operators are fully in agreement with this measure to attain this goal.

As for the entry of the new operators in the logistics segment, Manuel Ferreira said that the sector is working on the proposal to revise the current legal framework.

The revised legal framework will grant the right to perform the activity  – exclusively restricted to Sonangol Logístics – to other players, such as Pumangol and Sonangalp.

He said that the proposed revision of this law will be forwarded to the head of Executive before the end of this year.

On the other hand, the official mentioned the country’s capacity of 5 million tons of oil products which, according to him,  does not meet the needs of the market.

The manager of Pumangol distributor, Carlos Figueira, pointed to the company’s readiness to store and supply diesel, gasoline, bitumen and Jet for aviation to the national market.

He put the average storing capacity at 265,000 cubic meters of diesel, more than 1000 of gasoline and 40,000 of Jet.

With 78 supply points across the country, Pumangol has an installed capacity of around 400,000 cubic meters of oil products.

Source: Angop

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