By Foluso Ogunsan, in Ibigwe
The 5,000BOPD Waltersmith Refinery in Ibigwe, has joined the 11,000 BOPD Ogbele Expanded Refinery, also in eastern Nigeria, as two private sector owned functioning refineries in the country.
The Waltersmith Refinery was commissioned by President Buhari on November 24, 2020, speaking virtually to a packed audience including two state governors, a host of traditional rulers, heads of oil and gas regulatory agencies (NNPC, NCDMB), local CEOs of oil majors and independent E&P companies as well as oil service companies.
The latest update from the Department of Petroleum Resources (DPR), the industry regulator, cites the 7,000BOPD OPAC refinery in Kwale, in the country’s Midwest, as Nigeria’s likely third functioning, privately run refinery, having just been completed and awaiting commissioning.
Under construction are two others: The 500,000BOPD Dangote refinery is 71% completed, says the DPR‘s report, and the 6,000BOPD Edo Refinery is also far gone. (It is instructive that, in the DPR’s books, the Dangote Refinery is not listed as a 650,000BPD refinery, as widely described in the media, but as a 500,000BPD facility).
Apart from these five, no other refinery is under construction in the country today, despite the widespread perception in the press that a number of refineries are under construction.
The widely publicized Elko Petrochem & Refining Company is not yet under construction, according to the DPR update.
Nor is the Petrolex Oil and Gas refinery, for which an ‘authority to construct’ (ATC), was granted in December 2018.
There are 16 proposed refineries that have been granted authoritisation to construct, but are not in construction stage.
This piece is slightly updated from the original article, published in the October 2020 edition of the Africa Oil+Gas Report.
Some foolish Nigerians never want to hear any good news about their country. Continue to wail while Nigeria is gradually progressing.
Dis wonderful president may Allah bless you baba
This is good news, if I did not read your write up I would not have known, we have gone this far. Kudos to the Buhari regime. I entered train from Abuja to Kaduna. This is great.
Federal Government should support them so that all the Refinary we all start working thank you.
God bless President Muhammadu Buhari. May Nigeria succeed. Amen.
Thank God sanity is gradually returning to Nigeria there is still hope for better Nigeria tomorrow
Kudos to the Government and President Buhari. This is progress.
Then why are the price of fuel still increasing or are they just paper and virtual refineries?
Good but this are coming late.The world is shifting 80% from oil dependence to various Purer form of energy.
This entrepreneur need to make there money back.So how Welcoming will Nigeria(Africa) be to the Surging Green deal such as Electric vechicles ?
The world is going green, Petrol is on its way out.