Modular Refinery: FG, Firm Eye May 2020 Delivery Timeline - THISDAYLIVE

Chineme Okafor reports that all things being equal, Nigeria may have its first standard modular refinery up and running within the next five months.

Dangote’s massive refining project may not come on stream immediately due to its scale, however for Waltersmith Petroman which is building a 30,000bd modular refinery, an off-the-shelf solution to back the country’s desire to wean itself of imported petrol, its completion is possibly a touching distance going by its recent disclosure.

Additionally, the PwC team stated that, “with oil prices expected to remain low in the medium to long term, the focus on ramping up domestic refining capacity should become imperative,” to Nigeria because with lower oil prices come cheaper crude feedstock and higher margins for refiners would could also leverage the ever-present uncertainty in global crude oil market to shift Nigeria’s focus on crude oil production alone to crude value realisation by start of the next decade.

Its Managing Director, Mr. Chikezie Nwosu however explained in a technical presentation to Sylva that they were ready for expectations. Clearly, Nwosu said the first phase to be commissioned in May 2020 would supply 5,000bd of petroleum products with the second phase for 25,000bd also commissioned for construction in May.

He noted that the promoters have diligently worked to ensure that the delivery time for the first phase which is 18 months would not be missed, and stated that the phase one would contribute about 271 million litres of refined products including diesel, naphtha, heavy fuel oil and kerosene annually to the domestic market in addition to the jobs it would create for the host communities.

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