Femi Asu

Thirty-two refinery project licences issued to private investors in the country have become invalid in the past three years, according to the Department of Petroleum Resources.
The DPR said on Monday that the number of valid refinery project licences stood at 23 as of March 2021, down from 44 in April 2018.

An analysis of the agency’s new list of valid refinery project licences and that of April 2018 showed that 32 licences had become invalid while 11 new licences were granted between May 2018 and March 2021.

As of April 2018, there were 38 proposed modular refineries with capacity ranging from 5,000 barrels per stream day to 30,000bpsd, and six conventional plants with a total capacity of 1.35 million bpsd.
The DPR had said then that 20 of the licences were active, adding that 24 of the licence holders were still sourcing funds, although most of the licences had expired as of April 2018.

The agency’s updated list showed that the construction of four modular refineries, with a total capacity of 23,000bpsd, had been completed.

The refineries are Waltersmith Refining & Petrochemical Company Limited in Imo State, OPAC Refineries in Delta, Niger Delta Petroleum Resources (Train 3) in Rivers, and Edo Refinery and Petrochemical Company Limited in Edo.

The biggest refinery project, which is being built by Dangote Oil Refinery Company in Lagos, is more than 80.3 per cent completed, according to the DPR.

The refinery projects whose licences were declared invalid by the agency include BUA Refinery & Petrochemicals (Akwa Ibom); Dee Jones (Cross River); Energia Limited (Delta State); Southfield Petrochemical & Refinery Ltd (Edo); Starex Petroleum Refinery (Onne Oil & Gas Free Trade Zone); RG Shinjin Petrochemicals (Delta); Don Mac (Edo), and Platinum Hydrocarbon Resources (Delta).
Others are Mondonat Nigeria Ltd (Delta); Ikwe-Onna Refinery (Akwa Ibom); Shepha Petroleum & Petrochemicals Company (Delta); JIL-Amber (Port Harcourt Refinery); Gazingstock Petroleum Company (Delta); Petrolex Oil & Gas Limited (Ogun); Eghudu Refinery (Edo); Ibafon Refinery FZE (Calabar FTZ, Cross River); and Kainji Resources (Imo).
Among them are Eko Petrochem & Refining Company (Lagos); Hi Rev Oil (Akwa Ibom); Epic Refinery & Petrochemical Industries (Bayelsa); Masters Energy Oil & Gas (Rivers); Cross Country Oil & Gas (Imo); Grifon Energy (Ondo); Sifax Oil & Gas Company (Lagos); and Capital Oil & Gas Industries (Lagos);
Others are All Grace Energy (Rivers); Green Energy International (Rivers); Fresh Energy Limited (Bayelsa); Chyzob Oil & Gas (Abia); Aiteo Energy Resources Limited (Delta); Associated Worldwide Company (Akwa Ibom); and Amakpe International Refinery (Akwa Ibom).

https://punchng.com/dpr-revokes-32-refinery-licences-says-dangote-plant-80-complete/

A

so dem no fit import too right because na s licence dey give them chance for that before. Our power needs are not going away. In case you need external battery for your laptop, i have for sale. We are hoping the era of power insufficiency will be solved someday, while that last, let's consider alternative energy

Laughing in Monopoly

One person one to get the monopoly to do everything


I no call names oh

The biggest refinery project, which is being built by Dangote Oil Refinery Company in Lagos, is more than 80.3 per cent completed, according to the DPR.

Let those companies go and renew their licenses.

The koko news is above

We know whom these things favour. The ordinary man will never have a chance in Nigeria. If you nor know person, you are on your own.

All these "Refineries" and yet we still rely on imported petrol?
I don't understand biko, what really happens in these so called refineries?


or are they just revenue generators for some persons then tagged refinery as disguise


Real refineries are in the creeks, where boys are actually refining crude and having end products( AKA kpo fire fuel and kerosine) isn't it best to get them licensed and let investors troop in to better their infrastructure?


Well wetin concern me...

Bua will be invalid because of dangote... Enemy of progress

Where is the functional refinery apc promised Nigerians?

Laughing in Mr Aliko 'monopoly' Dangote

Dangote! Dangote!! Still dey find money

Making way for the chosen one.

Time to renew

See as people dey blame Dangote forgetting that

1.There are still 23 licences that are still extant...of which Dangote is one of them

2. Subsidy and price controls in the fuel sector makes it difficult for many companies to get loans and financing to start their refinereis...the banks won't lend them money because the price controls and subsidy means that the refineries potentially won't make enough of a profit to pay the loans back.

Danogte was able to get a loan becqause he has other assets that the banks can take over in the event of his refinery failing due to subsidy and price controls.

That is why subsidy should go.

Just because of one person

I know that bua will revalidate is license soon

Instead of them to monitor and reform those illegal, substandard refineries in the creek, they are empowering a few selected ones. They should collect the other ones plus the expired ones and give all the licences to Dangote, let him have a collection of licences abi can one licence be enough for him to control the oil economy ni? Instead of encouraging people to refine to a set standard, they are encouraging importation

When u have a refinery license according to Nigeria's policy, u have the right to import petroleum products until u are able to establish your refinery. Abnormal things happen in Nigeria . Because of this, most of these license holders will renew their licenses because they want to keep importing petroleum products and receive subsidies that can't be explained. Their goal is not to build refineries but to keep importing. Our brains need to be checked seriously in this country

Is not a big deal

Go and renew

I hope Nigeria will not turn it the order way round

The agency’s updated list showed that the construction of four modular refineries, with a total capacity of 23,000bpsd, had been completed.

The refineries are Waltersmith Refining & Petrochemical Company Limited in Imo State, OPAC Refineries in Delta, Niger Delta Petroleum Resources (Train 3) in Rivers, and Edo Refinery and Petrochemical Company Limited in Edo.

The biggest refinery project, which is being built by Dangote Oil Refinery Company in Lagos, is more than 80.3 per cent completed, according to the DPR.

For those shouting Dangote monopoly.

So we even get refinary sotey e reach 32 way no de work again...... Is that so

In everything we do, let us reckon with God. He is the one with the best plan.

Neutralobserver:
See as people dey blame Dangote forgetting that

1.There are still 23 licences that are still extant...of which Dangote is one of them

2. Subsidy and price controls in the fuel sector makes it difficult for many companies to get loans and financing to start their refinereis...the banks won't lend them money because the price controls and subsidy means that the refineries potentially won't make enough of a profit to pay the loans back.

Danogte was able to get a loan becqause he has other assets that the banks can take over in the event of his refinery failing due to subsidy and price controls.

That is why subsidy should go.

How many times has subsidy gone and this govt still 'brings' it back after few months? Problem with this administration is that the lies are too much that they even believe it themselves.

oz4real83:
When u have a refinery license according to Nigeria's policy, u have the right to import petroleum products until u are able to establish your refinery. Abnormal things happen in Nigeria . Because of this, most of these license holders will renew their licenses because they want to keep importing petroleum products and receive subsidies that can't be explained. Their goal is not to build refineries but to keep importing. Our brains need to be checked seriously in this country

All the more reason why subsides should go....and everyone should look for money to finance their refineries.

The problem is, Nigerians don't want subsdies to go. The rich want free money, and the poor want low prices for fuel(yes, compared to most African countries, only Angola and Algeria pay lower for fuel than we do). Subsidy benefits both sides.

Dangote at work.

crazygod:

How many times has subsidy gone and this govt still 'brings' it back after few months? Problem with this administration is that the lies are too much that they even believe it themselves.

Government brings it back because if they did not, prices of petrol will rise to N300 and above per liter....and Buhari would be thrown out of office before 2023, and the chaps who take over will promptly reinstate it.

Politicans will keep bad polices so long as their access to power does not get affected.

Also, the elite who benefit from free subsidy money won't like it.

This is a case of medicine after death. Why talking now when the deed has been done. You provided license and either never followed through to ensure implementation. abeg this dud has failed us!!

So we have a whole 32 refinery that can't even refine crude oil? It's well oh!