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Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal - Politics - Nairaland

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Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Great100000(op): 7:20pm On Jan 10, 2025
Nigeria's oil industry is poised for growth as petroleum marketers prepare to launch a new 50,000 barrels per day (bpd) refinery.

• Nigeria's oil industry is set for growth with the launch of a new 50,000 bpd refinery.

• Nigeria is making significant progress in rehabilitating government-owned refineries and promoting modular refineries.

• The agreement to establish a new refinery in Nigeria is between Nigerian petroleum marketers and three oil companies.


According to Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), the refinery will be developed in collaboration with three oil companies and located in Akwa Ibom State.

Nigeria's oil industry sees improvement

As Africa's largest oil producer, Nigeria has long faced the challenge of being a leading crude oil exporter while heavily dependent on imported refined products.

To address this imbalance and enhance its oil production capacity, the country is making refinery development a key focus of its energy strategy.

This strategy focuses on building new refineries, modernizing existing facilities, and fostering partnerships to enhance efficiency and achieve self-sufficiency in the petroleum sector.

Significant progress can be seen in the rehabilitation of government-owned refineries like Warri and Port Harcourt and the promotion of modular refineries nationwide.

The Dangote Refinery has emerged as a transformative force in Nigeria's economy, positioning itself as a major player in the global petroleum industry.

Between April and September 2024, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reported that the refinery supplied 489,500 MT of Automotive Gas Oil (AGO) and 29,000 MT of Jet A1 fuel.

These were distributed via 17 AGO shipments to Lagos, 6 to Warri, 2 to Port Harcourt, and 1 to Calabar, highlighting its key role in domestic fuel supply.

The Dangote Refinery has also commenced exporting Premium Motor Spirit (PMS) to several African countries, including Ghana, Angola, South Africa, Cameroon, and Nigeria. This marks a significant milestone in enhancing regional fuel supply and reducing dependency on external sources.

PETROAN confirms deal

According to The Punch, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), confirmed a partnership agreement with Claridge Petroleum Company Ltd, Oasis Petrochemical Products Limited, and Afrintech.

This collaboration aims to ensure Nigerians have access to affordable fuel, further strengthening the refinery's role in addressing local and regional energy needs.

“The deal is that we have requested for them to not import for us but to set up a refinery in Nigeria and they have agreed to that. So within the period that the process will be, they can be importing only diesel for us and maybe base oil; but PMS, we must have to do that locally,” Gillis-Harry told The Punch

This new arrangement effectively nullifies the group’s earlier agreement on petroleum importation.

In November last year, PETROAN had announced plans to import and sell Premium Motor Spirit (PMS) at prices below those offered by the Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC).

However, Gillis-Harry revealed that the importation plan has been scrapped in favor of establishing a new refinery, aligning with the association’s commitment to boosting local production and ensuring affordable fuel for Nigerians.

Source: https://africa.businessinsider.com/local/markets/nigeria-set-to-welcome-new-50000-bpd-refinery-as-oil-marketers-strike-major-deal/n4b6lfn

Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by helinues: 7:22pm On Jan 10, 2025
Another good news

Na wetin we go take injure the so called opposition before the election
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Kobojunkie: 7:24pm On Jan 10, 2025
Nonsense! 🙄🙄🙄🙄🙄
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by budaatum: 8:49pm On Jan 10, 2025
Kobojunkie:
Nonsense! 🙄🙄🙄🙄🙄
It wouldn't be nonsense if they were saying this in the year 2000, or 2010 even, but one has to agree that its better sense than never despite the shame of it.
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Kobojunkie: 8:51pm On Jan 10, 2025
budaatum:
➜It wouldn't be nonsense if they were saying this in the year 2000, or 2010 even, but one has to agree that its better sense than never despite the shame of it.
To me, it is simply nonsense! undecided
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by helinues: 8:53pm On Jan 10, 2025
budaatum:
It wouldn't be nonsense if they were saying this in the year 2000, or 2010 even, but one has to agree that its better sense than never despite the shame of it.
How did you find yourself in the Obidients camp self? Those are your group members oo

grin cheesy cheesy
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Canpeakmilk: 8:54pm On Jan 10, 2025
helinues:
How did you find yourself in the Obidients camp self? Those are your group members oo

grin cheesy cheesy
You go find work ?

YES OR NO
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by helinues: 8:56pm On Jan 10, 2025
Canpeakmilk:
You go find work ?

YES OR NO
You just created this moniker just some few mins ago, the 6th today just for trolling others and you are telling others to get a job when you should advise yourself to get a meaningful life devoid of wasting the current one away all in the name of senseless trolling

We have advised to stop taking malaria tablet for something spiritual

https://www.nairaland.com/canpeakmilk
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by budaatum: 8:59pm On Jan 10, 2025
helinues:
How did you find yourself in the Obidients camp self? Those are your group members oo

grin cheesy cheesy
First, no one is my "group members", and anyone who thinks people are my group members is failing to see me for the individual that I am because they themselves are blind fuqs.

I did not want a continuation of APC after their 8 years. A new party in power would have had to spend time seeking where to loot, which would have slowed down the looting, and they might have probed Buhari which his own party is unlikely to do.
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Canpeakmilk: 8:59pm On Jan 10, 2025
helinues:
You just created this moniker just some few mins ago, the 6th today just for trolling others and you are telling others to get a job when you should advise yourself to get a meaningful life devoid of wasting the current one away all in the name of senseless trolling

We have advised to stop taking malaria tablet for something spiritual

https://www.nairaland.com/canpeakmilk
Dey explain my Gee
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by helinues: 9:00pm On Jan 10, 2025
budaatum:
First, no one is my "group members", and anyone who thinks people are my group members is failing to see me for the individual that I am because they themselves are blind fuqs.

I did not want a continuation of APC after their 8 years. A new party in power would have had to spend time seeking where to loot, which would have slowed down the looting, and they might have probed Buhari which his own party is unlikely to do.
So in M.I you are no longer an Obidients?

budaatum:
I am not an anything. Its just that ignorant people think one must be a something that one supports.

When I quote from the Bible some think I'm a Christian. When I quote from the Quran they think I'm a Muslim, and when I quote "to be or not to be" some must think I am Shakespeare.

Personally, I'd say I'm a Deng Xiaopingnian for whom "It doesn't matter whether a cat is black or white, as long as it catches mice".

Paul described me perfectly with the below (with apologies at how shady it must make Paul and I seem).
I have seen you severally on this forum defending the Obidients whenever people generalize some of their members behavior.

The records are there in your comments history bro, I am not accusing you wrongly
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by budaatum: 9:01pm On Jan 10, 2025
Kobojunkie:
To me, it is simply nonsense! undecided
It is simply nonsense, and will be more greater nonsense when BYD starts selling electric cars in Nigeria.

Better would be money spent on building electricity.
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Canpeakmilk: 9:02pm On Jan 10, 2025
helinues:
So in M.I you are no longer an Obidients?
How is that the solution to your joblessness?
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Kobojunkie: 9:03pm On Jan 10, 2025
budaatum:
➜It is simply nonsense, and will be more greater nonsense when BYD starts selling electric cars in Nigeria. Better would be money spent on building electricity.
Commonsense!😩😩😩😩
Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by budaatum: 9:11pm On Jan 10, 2025
helinues:
So in M.I you are no longer an Obidients?
I am not an anything. Its just that ignorant people think one must be a something that one supports.

When I quote from the Bible some think I'm a Christian. When I quote from the Quran they think I'm a Muslim, and when I quote "to be or not to be" some must think I am Shakespeare.

Personally, I'd say I'm a Deng Xiaopingnian for whom "It doesn't matter whether a cat is black or white, as long as it catches mice".

Paul described me perfectly with the below (with apologies at how shady it must make Paul and I seem).

Re: Nigeria Set To Welcome New 50000 bpd Refinery As Oil Marketers Strike Major Deal by Great100000(op): 6:55am On Jan 13, 2025
Great100000:
Nigeria's oil industry is poised for growth as petroleum marketers prepare to launch a new 50,000 barrels per day (bpd) refinery.

• Nigeria's oil industry is set for growth with the launch of a new 50,000 bpd refinery.

• Nigeria is making significant progress in rehabilitating government-owned refineries and promoting modular refineries.

• The agreement to establish a new refinery in Nigeria is between Nigerian petroleum marketers and three oil companies.


According to Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), the refinery will be developed in collaboration with three oil companies and located in Akwa Ibom State.

Nigeria's oil industry sees improvement

As Africa's largest oil producer, Nigeria has long faced the challenge of being a leading crude oil exporter while heavily dependent on imported refined products.

To address this imbalance and enhance its oil production capacity, the country is making refinery development a key focus of its energy strategy.

This strategy focuses on building new refineries, modernizing existing facilities, and fostering partnerships to enhance efficiency and achieve self-sufficiency in the petroleum sector.

Significant progress can be seen in the rehabilitation of government-owned refineries like Warri and Port Harcourt and the promotion of modular refineries nationwide.

The Dangote Refinery has emerged as a transformative force in Nigeria's economy, positioning itself as a major player in the global petroleum industry.

Between April and September 2024, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reported that the refinery supplied 489,500 MT of Automotive Gas Oil (AGO) and 29,000 MT of Jet A1 fuel.

These were distributed via 17 AGO shipments to Lagos, 6 to Warri, 2 to Port Harcourt, and 1 to Calabar, highlighting its key role in domestic fuel supply.

The Dangote Refinery has also commenced exporting Premium Motor Spirit (PMS) to several African countries, including Ghana, Angola, South Africa, Cameroon, and Nigeria. This marks a significant milestone in enhancing regional fuel supply and reducing dependency on external sources.

PETROAN confirms deal

According to The Punch, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), confirmed a partnership agreement with Claridge Petroleum Company Ltd, Oasis Petrochemical Products Limited, and Afrintech.

This collaboration aims to ensure Nigerians have access to affordable fuel, further strengthening the refinery's role in addressing local and regional energy needs.

“The deal is that we have requested for them to not import for us but to set up a refinery in Nigeria and they have agreed to that. So within the period that the process will be, they can be importing only diesel for us and maybe base oil; but PMS, we must have to do that locally,” Gillis-Harry told The Punch

This new arrangement effectively nullifies the group’s earlier agreement on petroleum importation.

In November last year, PETROAN had announced plans to import and sell Premium Motor Spirit (PMS) at prices below those offered by the Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC).

However, Gillis-Harry revealed that the importation plan has been scrapped in favor of establishing a new refinery, aligning with the association’s commitment to boosting local production and ensuring affordable fuel for Nigerians.

Source: https://africa.businessinsider.com/local/markets/nigeria-set-to-welcome-new-50000-bpd-refinery-as-oil-marketers-strike-major-deal/n4b6lfn
1 Reply

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