Will Nigeria’s biggest oil refinery boost refining capacity?
(AP Photo/Sunday Alamba, File) ABUJA, Nigeria (AP) — Africa’s biggest oil refinery has begun production in Nigeria, the company has said, ending a yearslong wait for a plant that analysts said Monday could boost refining capacity in a region heavily reliant on imported petroleum products.
How much does a Nigerian oil refinery cost?
Estimated to cost $18bn, the refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene. The project is expected to generate 4,000 direct and 145,000 indirect jobs. Nigeria is estimated to hold approximately 37 billion barrels of proven oil reserves, the second-largest reserves in Africa.
What are the refineries in Nigeria?
2. KADUNA REFINERY 3. NIGER DELTA PETROLEUM RESOURCES 4. PORT HARCOURT REFINING COMPANY (PHRC) 5. INDORAMA ELEME PETROCHEMICALS COMPANY LIMITED Currently, Nigeria has five refineries in total. One is located in Warri while another is located in Kaduna. Three of the remaining Nigerian refineries are located in Rivers state and Port-Harcourt.
Who runs crude oil refinery in Nigeria?
In Nigeria, it is the federal government that runs crude oil refinery, but in recent time, private investors have been issued licenses to come into the industry hence giving room to those who are interested in the oil and gas industry to come in.