New Telegraph

Hope rises over early unveiling of 60,000bpd modular refineries

Barring any unforeseen circumstances, five modular refineries are starting operation in the next 20 months, New Telegraph has learnt.

 

The period runs between 2022 and 2023, a development, which suggests that they would help in improving supply of petroleum products locally.

 

The refineries are located in the southern part of the country, precisely in Edo and Rivers states and are built with different nameplates.

 

They boast of between 5,000 and 60,000 barrels capacity and some of the refiniries may process much larger quantities, after they have been upgraded, with a view to increasing their production.

 

Two of the refiniries are located in Egbokor village in Orhionmwon and Ikpoba local government areas of Edo State, while others are cited in different states in the South-South belt.

 

They include Waltersmith Refining and Petrochemical Company Limited, OPAC Refineries, Niger Delta Petroleum Resources and Lowrie Refinery Limited.
While many of the modular refineries are far from completion, others are billed for commmisiong soon.

 

President Muhammad Buhari is billed to commission the refineries at a ceremony that will be attended by eminent personalities, including state governors, royal fathers and chiefs in the region.

 

Sources close to New Telegraph said that refineries in Igbokia area of Orhionmwon and that of Ikpobia local government areas were 99 per cent completed.

 

The refiniries are separate from the Dangote Petrochemical Refinery, which is scheduled to commence operation with 650,000 barrels capacity.

 

The five refineries are among the 44 approved by the government of President Muhammad Buhari to process crude oil and further assist in improving supply of fuel nationwide.

 

Speaking on the issue, the President, Major Oil Marketers Association of Nigeria (MOMAN), Mr Clement Isong, said that more refiniries would commence operation in 2022 and thereafter.

 

Sounding optimistic, Isong said that both refiniries (modular and conventional) would help in providing fuel to Nigerians in large quantity.

 

 

He said: “The output of the refiniries, especially Dangote Petrochemical Refineries, is huge. Apart from the fact that fuel would be made available for Nigerians through the refineries, activities in the sub-sector are going to be revived, as more Nigerians would get reasonable income from the projects.”

Recalled that the Edo State Governor, Mr Godwin Obaseki, had projected that the modular refineries would revolutionise the state by creating more jobs for the people.

Speaking at the tour of the two refineries in his state, he said the development would open South-South region for more business opportunities, adding that fuel would be in abundance in Edo and neighbouring states.

 

The Minister of Finance, Mrs Zanaib Ahmed, had earlier said that the Federal Government would stop subsidy payment in June, this year, adding that the government was anticipating that Dangote Refineries would come on board to add to the country’s fuel output.

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