The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has revealed that the two new refineries in Edo State are poised to contribute to Nigeria’s 1.5 million barrels of daily refining capacity.
The Edo Refinery and Duport Midstream Refinery are currently refining petrochemical products in the state and will start petrol refining as soon as they receive crude oil supplies.
Nigeria asked oil-producing companies to supply crude to new refineries
The Nigerian government recently ordered about 52 oil companies in Nigeria to begin supplying crude to emerging refineries to avoid the embarrassment of imports. At the same time, it is a top oil producer in Africa.
Wabote revealed this at the third Biennial International Conference on Hydrocarbon Science and Technology, organized by the Petroleum Training Institute.
The two refineries have reportedly ordered 300,000 barrels of crude oil from the Oza oil field and currently produce diesel, naphtha, and Lour Pour Fuel Oil.
According to a Punch report, the Edo Refinery and Petrochemical company runs the 6,000 barrels per day plant in Ologbo, Ikpoba, Okha LGA, and Duport Refinery, located in the Egbokor area of the state, is part of the integrated park.
The Edo Refinery was financed via a N700 million investment by the government of Godwin Obaseki in 2019 and expanded to 12,000 barrels per day capacity.
New refineries springing up to end petrol imports
NCDMB reportedly has stakes in the Duport Refinery and is devoted to the facility’s expansion.
“If all plans go well, Nigeria will meet the target of 1.5 million bpd by 2025 through the various refining investments such as the 650,000 barrels per day Dangote refinery and the Bua Group refinery project,” Wabote said.
The NCDMB boss listed Waltersmith modular refinery, Duport Midstream refinery, OPAC Refinery, Edo Refinery, Aradel Holdings Refinery, and the 445,000 barrels per day Kaduna and Port Harcourt refineries as projects that would help Nigeria to hit the 1.5 million barrels per day refining capacity goal.
“The realization of these projects would culminate in Nigeria achieving a combined refining capacity of approximately 1.5 million barrels per day by 2025,” Wabote added..…CONTINUE.FULL.READING>>>