The country’s oil and gas business may be heading for good times as Blooming Faith Petroleum Ltd., a subsidiary of Hong Kong-based Blooming Faith Global Holdings Ltd, would partner the Federal Government to build and operate a refinery with an installed capacity of 200,000 barrels per day, in Akwa Ibom State.



In a statement made available to Vanguard, a senior management team of the organisation, which is currently in Nigeria to kick-start procedure for the project, confirmed a successful engagement with the Nigerian National Petroleum Corporation, NNPC.

Speaking on the development, Chairman of the company, Dr. Robert Yeung, explained that the company’s interest in building a refinery was influenced by the discovery that Nigeria, a major oil producing nation, relied on importation of refined products to attend to its domestic needs.

His words: “We became immediately interested for two basic reasons: first, as a business entity, we have identified a vacuum to be filled, because the government of Nigeria will not import what it can access locally. “Second, our confidence in Nigeria as an investors’ destination of choice in Africa: we know that we can never get it wrong with a country of almost 200 million people.”

Source>>http://www.barbaric.com.ng/hong-kong-firm-build-200000bpd-refinery-nigeria/