Angola issues tender to widen import base

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An Oil and Gas drilling rig, operating in Angola,

In a bid to reform the oil industry, Angola has issued its first public tender to buy refined products to widen its import base, market sources who have seen the tender said it is a continuation of the country to its committed to reforming its oil industry.

Heavily reliant on oil sales for government income affected many oil-dependent countries. The country is undertaking the reforms to prevent a repeat of the crush by the 2014 oil price crash, which pushed several economies into recession and created foreign currency shortages that crippled businesses.

The new Angolan president, Joao Lourenco, has committed to economic reforms and ordered a review of the country’s oil industry after he took office last September, succeeding Jose Eduardo dos Santos who stepped down.

The tender to buy refined products showcases a direction towards reforming of the oil industry. One of the sources said the tender would close on Jan. 31 and be looking for 1.2 million tonnes of gasoline, 2.1 million tonne of gas oil and 480,000 tonnes of marine fuel.