The country is aware of the need to maintain a balance between defending the planet, with decarbonization and reducing the greenhouse effect, and the need to improve the quality of life of citizens, with the exploration of fossil fuels.
The statement was made by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, who was speaking, Thursday, in Luanda, at the 3rd edition of the Round Table addressed to the CEO 2023 (executives) of the oil sector and several Angolan companies, organized by consulting firm Global Services Corporation.
Despite the natural decline of oil, Diamantino Azevedo highlights that Angola and the world will still “need oil for a long time” to develop their economies, and cited the example of lithium, necessary for the production of batteries, even if we invest in renewable energies.
In his view, the oil sector must seek better solutions, taking into account the current context of the industry, within the scope of the energy transition, the global situation and the country’s own situation.
For the governor, investing in training, research and technological innovation must be the priority for the country to make the most of the transformation of oil, and describes the advantages as self-sufficiency in fertilizers.
“It is possible for us to add value to the oil we produce and increasingly try to transform it in the country through refining and based on the studies we are carrying out, we can see the possibility of developing petrochemicals and also with the intentions we have to produce ammonia and with the other mineral components, we can achieve self-sufficiency in fertilizers for the country”, he highlighted.
He also considered investing in gas production, not only for the kitchen and for powering thermal plants and the hybrid plant in Soyo (Zaire), but also for the production of ammonia and other minerals such as fertilizers.
He also defends the investment in steel production based on the iron ore resources that the country has.
“There is a great opportunity that hydrocarbons can provide for the country’s economic diversification, directly and indirectly”, he highlighted.
Regarding local content, the government official recognized that a large part of the industry’s work is done by national companies, however, he urged companies providing services in the oil sector to follow the dynamics of the evolution of the sector, to be more efficient and effective, in order to become competitive.
He considers the balance of this segment to be positive, after the approval of the Local Content Law, three years ago.
For the minister, “there is more space” for national companies to enter the oil production chain, having pointed to financing as an opportunity for companies to improve the business environment to attract more investment, both internal and external.
“We had the opportunity, as I said, last week, to take stock of the legislation on local content. We discussed it in depth with our partners and saw what needs to be improved.
But, as I said, we cannot just look at one side of the coin. We have to be in-depth in the analysis we do and above all we look at ourselves first and that is where I call on companies to do more to enhance themselves”, he clarified.
Participating in the debates of this panel were the Secretary of State for Planning, Milton Reis, the PCA of TAAG, Ana Major, and the PCA of Unitel, Aguinaldo Jaime.
In general, the managers pointed to the need for the country to awaken to training and technological development, with the aim of achieving its objectives and becoming self-sufficient, as well as helping to boost the national economy.
When speaking on the panel that debated the issue of how the oil sector could contribute to the diversification of the Angolan economy, international consultant Paulo Portas defended the need for the African continent and Angola, in particular, to look at renewable energy as an opportunity to achieve the sustainable development.
For the former Vice-Prime Minister of Portugal, the world is moving towards changes in energy policy regarding sources, seeking to evolve towards more renewable energies.
The former Portuguese ruler understands that the continent must stop focusing solely on the exploration of fossil fuels, and can therefore seek to evolve towards more renewable energies, “which is one of the things in which Africa can play a huge role”.
At the time, he cited the example of Morocco, which despite not having abundant oil resources, depends on imports of fossil fuels for 97 percent of its domestic energy needs, and is already considered a global leader in renewable energy.
According to Paulo Portas, it is important that oil-dependent countries begin to assess from what point in time the demand for fuels such as oil will tend to reach its peak and then decline, in order to make informed decisions. useful time, of the reforms to be carried out.
He recalled that the war in Ukraine and the conflict in the Middle East show that energy is almost always associated with major geopolitical issues.
He appealed to the need for companies linked to oil, located in countries like Angola, with more experience, with longer production time and relevance in the international market, to invest in research.
“Normally we look at Africa, in my opinion, it is a purely insufficient view, just as a continent very rich in fossil fuels.
But, Africa has the conditions, just give the example of solar energy, or if they are made large infrastructures that are planned on the continent, but delayed, may have great opportunities to become a powerhouse in renewable energy”, he said.
