Africa Angola Economy Fuel Natural Resources Oil

Angola: Oil products consumption grows 4%

Angola acquired in the third quarter of the current year, 1.1 million metric tons (TM) of oil products, representing a growth of four percent over the previous period. Of this amount, 18% comes from the Luanda Refinery, 2% from Cabgoc – Topping of Cabinda and 80% from imports.

According to the summary balance of the oil derivatives sector for the third quarter of 2019, this represents an increase of 21% over the same period of 2018.

Sales volume in the reporting period was approximately 98.000 metric tons, representing an increase of approximately 30% over the previous quarter, with Sonangol distributor prevailing in the market leading with a share of approximately 69%, followed by Pumangol with 23% and Sonangalp with 8%.

The balance shows that five of Angola’s 18 provinces account for 75% of national consumption, with Luanda coming first with 53%, followed by Huila with 6%, Benguela and Cabinda with 5.5% and Zaire with 5%.

The country has an onshore storage capacity for liquid fuels of approximately 680,111 cubic meters, of which 358,511 cubic meters, corresponding to 53% of the total, is owned by Sonangol Logística and the remaining 321,500 meters and 47% are the property of Pumangol.

Source: Angop

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