Luanda – The Angolan Oil and Gas Distribution Company (Sonangol) Thursday in Luanda pledged to restore soon its regular supplies of butane gas to outlets and bring down shooting market prices.

Speaking at a press conference, Sonangol Distribution administrator, Carlos Veloso, said the shortage of the butane gas noted in the Luanda market over the last few days was owed to a drop in stocks, caused by technical reasons already settled.

 
 
Carlos Veloso assured there are enough stocks to supply the Luanda market with kitchen gas and other oil derivatives like diesel and petrol during Christmas and new year season.

He also appealed to shop operators to help stabilise prices and avoid speculation.

 
With a daily production of 40,000 gas cylinders, Sonangol supplies to the Luanda and Bengo markets more than 30,000 bottles of 12 kilograms, through its first line operators, said the official.

 
The first line operators, the official explained, have a storage capacity for 1000, 1,500 to 2000 cylinders of 12 kilograms, and can supply smaller retailers.

 
The administrator admitted a tight butane distribution network for Luanda, adding demand of gas and other fuels rose by 25 percent in 2007 and 25 percent the following year.

 
 
He announced that a project is underway to improve the supply of oil and its derivatives in Luanda and other provinces of the country. 

 
The drop in the supply of butane gas in Luanda led to a speculation of prices, with the 12 kilograms cylinder shooting to more than Akz 3,000, against the official Akz 460 (one Usd is Akz 83.6).