Etu Energias, Angola’s largest private oil company, has partnered with Glide Technology, a prominent regional petroleum product producer, to inaugurate a lubricant production line.
The collaboration has led to the establishment of a joint venture company aimed at developing a cutting-edge lubricant production facility in Luanda, Angola’s capital. The facility, with a monthly production capacity of 1,000 tons, is scheduled to begin construction in 2025, requiring a $5 million investment. With ambitious growth targets, the company aims to secure a significant 25% market share by 2029.
The lubricants manufactured at the facility will be exported regionally while also being supplied to Etu Energias’ network of fuel stations across the country.
Etu Energias Chairman Edson Rodrigues Dos Santos expressed optimism, stating, “Today, we operate three petrol stations, and our goal is to expand to around 40 stations within the next four years. The introduction of the new line of lubricants marks the beginning of our ambitious downstream sector expansion.”
Pedro Mora, Etu Energias’ Distribution Executive Administrator, highlighted one of the challenges faced by the Angolan market – the availability of petroleum products. He added, “Once we commence production, we will be able to serve our customers more efficiently by catering directly to their needs.”
What do you think?
The financing deal is a significant milestone in the project’s progress, and it is a credit to the company’s leadership and team for their tireless efforts in making this vision a reality. The company’s dedication to sustainability and environmental consciousness is a shining example for others in the industry to follow.
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