₦airaland Forum

BUA Group signs France’s Axens for new refinery project

The new project will go head-to-head with Nigeria's other large scale refinery project, being built by the Dangote Group.

France’s largest hydrocarbons group Axens has won a contract to license key refinery technologies to one of Nigeria’s leading industrial conglomerates, the BUA Group.

For Rabiu, the economics of the project are a ‘no-brainer’: “Nigeria imports 90% of it’s petroleum products. We spend 35% of our foreign exchange on importing petroleum products.”

The new refinery, with a capacity to produce 200,000 barrels per day (bpd), should be operational in 2024. By comparison, the Dangote Group project will produce 600,000 bpd.

The bidding process was managed by energy consultants KBR, which will also be handling subsequent rounds for the engineering and construction phase, currently underway.

The refinery will be built using an undisclosed mix of debt and equity, with several development and commercial banks in negotiations with BUA Group.

Ok

He should build it in sokoto

,

Epstein:
dead on arrival........

HMMMMMMMMM

WOW !!!!!!
CONTINUE WITH THIS ATTITUDE AND YOU WILL REMAIN AN ONLOOKER AS FAR AS WEALTH IS CONCERNED

YOU THINK THIS GUY WILL SINK BILLIONS INTO SOMETHING THAT WILL NOT BE A SUCCESS.

HE HAD HIS OWN PRIVATE JET AT YOUR AGE.
YOU CAN NEVER SEE WHAT HE SEES

SOMEONE HITTING SUCESS AFTER SUCCESS FROM HIS TEENS TILL HE IS WORLD RATED BILLIONAIRE

WHEN HIS WIN COMES. NEXT YOU WILL CLAIM NA MONOPOLY OR NA POLITICIANS MONEY.

GOAN HELP YOURSELF
IMAGINE,AFTER SOAKING GARRI MADNESS WILL JUST START.

athaboi:
He should build it in sokoto

Competent business people have a lot more sense than you advise.

Must he do everything Dangote does?

GamalNasser:
Must he do everything Dangote does?

Well that's his own competition. It's healthy

Where is he building it?

GamalNasser:
Must he do everything Dangote does?

go and do it differently nah,

this guy is seriously creating competition in our future Monopoly and u dey complain

chuka5000:
go and do it's differently nah,

this guy is seriously creating competition in our future Monopoly and u dey complain

Okay

GamalNasser:
Must he do everything Dangote does?

HMMMMMMM

ONLY A KANO MAN CAN MATCH A KANO MAN AS FAR AS WEALTH IS CONCERNED IN THIS COUNTRY

KANO AND GUTS = 5 AND 6

This is a welcome development. Fulani people are trying. It's just their herdsmen who are causing problems for everybody and damaging the image of the good ones among them.

The refinery will be built in Akwa ibom oga

stonemasonn:
Where is he building it?

AKWA IBOM

NASTYNASOSO:
BUA Group signs France’s Axens for new refinery project

The new project will go head-to-head with Nigeria's other large scale refinery project, being built by the Dangote Group.

France’s largest hydrocarbons group Axens has won a contract to license key refinery technologies to one of Nigeria’s leading industrial conglomerates, the BUA Group.

For Rabiu, the economics of the project are a ‘no-brainer’: “Nigeria imports 90% of it’s petroleum products. We spend 35% of our foreign exchange on importing petroleum products.”

The new refinery, with a capacity to produce 200,000 barrels per day (bpd), should be operational in 2024. By comparison, the Dangote Group project will produce 600,000 bpd.

The bidding process was managed by energy consultants KBR, which will also be handling subsequent rounds for the engineering and construction phase, currently underway.

The refinery will be built using an undisclosed mix of debt and equity, with several development and commercial banks in negotiations with BUA Group.

Lol, the oil is in Niger Delta but the companies drilling the oil are based in Lagos and pays tax to Lagos State government

The crude oil is in Niger Delta but the oil well owners are largely Northerners

The crude oil is in the Niger Delta but the refinary builders are Northerners who are building the refineries in Lagos region

The crude oil wealth is gotten from the Niger Delta with nothing on ground to show for it except polluted rivers, farmlands, gas flares and acid rains but the proceeds are seen in other places

The funny thing is that the actual mugu in all these crimes against humanity thinks they're wise and smart while those they always see as dull are the ones who have completely used them as slaves

By the time the "our oyel crew" and "we are not Igbos" local champions realize what has happened to them, it will be very very late.

The most thoughtless, unreasonable and self hating people in the world has been discovered

Privatize our refineries dem no gree! In d end, we’re all waiting for someone to sink his billions into building a private refinery like he only doing it to beat Santa Claus in dash dash!

Why cant tinubu , jame ibori ,auther eze build refinery?....

proeast:
Lol, the oil is in Niger Delta but the companies drilling the oil are based in Lagos and pays tax to Lagos State government

The crude oil is in Niger Delta but the oil well owners are largely Northerners

The crude oil is in the Niger Delta but the refinary builders are Northerners who are building the refineries in Lagos region

The crude oil wealth is gotten from the Niger Delta with nothing on ground to show for it except polluted rivers, farmlands, gas flares and acid rains but the proceeds are seen in other places

The funny thing is that the actual mugu in all these crimes against humanity thinks they're wise and smart while those they always see as dull are the ones who have completely used them as slaves

By the time the "our oyel crew" and "we are not Igbos" local champions realize what has happened to them, it will be very very late.

The most thoughtless, unreasonable and self hating people in the world has been discovered

HMMMMMMMMM

YOU HAVE JUST ACCEPTED DEFEAT.

IT SEEMS THE ABOKIS HAVE SUPERIOR INTELLIGENCE OR PERHAPS THEY ARE BETTER BUSINESSMEN .

1. WHAT STOPPED ALL EXISTING PLANS TO BUILD A REFINERY IN AKWA IBOM FOR 20 YEARS BY MULTIPLE INVESTORS.
NA ABOKI SABI PASS JARE.

2. MOST OF THE STATES IN THE NIGER DELTA HAD SUCH PLANS BUT THEY NEVER ACHIEVED THIS FEAT.

3. WHO IS HOLDING BACK ANY NIGER DELTAN FROM ACHIEVING SUCH.

4. WHO IS STOPPING YOU FROM DOING THE SAME IN YOUR STATE.

BROS NO BE BY MOUTH.

THOSE THAT HAVE THE BRAIN AND CAPACITY SHOULD SHOWCASE.

IF YOU NO GET MONEY HIDE YOUR FACE

KANO FOLKS HAVE SILENTLY SHOWN THAT THEY ARE THE BEST BUSINESSMEN IN NAIJA.

NOTE BUA AND DANGOTE ARE THE ONLY NIGERIANS THAT OWN SUGAR REFINERY.

The "our oil crew" and "we are not Igbos local champions" are too timid, too scared and lacking in foresight to know what is good and right for them and pursue it.

They can't think or act smart, even if it's just for once.
Instead of their leaders and youths to brainstorm, call a meeting and take a unanimous decision over these terrible situations, they will keep mute and be forming ethnic nationalities that are made up of little villages In the North, villages that are far flung and not contigous will band together as Hausa or Fulani even when such identity is in doubt, but because they understood that there is strength in unity, they stick together and pursue their interests with one voice, but here, villages were decieved to cut off ties with one another even when there is overwhelming evidence of their bonds, and they were told to isolate themselves in the name of ethnic nationalities even when they're just minute villages The result? They're pillaged, exploited and dehumanized with reckless abandon and despite all, they still can't decipher why all these evil is befalling them.

Ndi eriri eri

olisaEze:
Privatize our refineries dem no gree! In d end, we’re all waiting for someone to sink his billions into building a private refinery like he only doing it to beat Santa Claus in dash dash!

HMMMMMMM

BUT THE PRIVATISATION OF THE REFINERIES WAS OUT RIGHTLY REJECTED BY THE NIGER DELTANS .AFTER THEY WERE ALREADY SOLD OUT.

NASTYNASOSO:
HMMMMMMM

ONLY A KANO MAN CAN MATCH A KANO MAN AS FAR AS WEALTH IS CONCERNED IN THIS COUNTRY

KANO AND GUTS = 5 AND 6

Ohh so he is also from Kano ? I never knew that part

ahiboilandgas:
Why cant tinubu , jame ibori ,auther eze build refinery?....

HMMMMMM

BECAUSE IT IS A VERY DICEY AND DELICATE VENTURE.

ONLY THE BEST AND TESTED BUSINESSMEN VENTURE INTO THAT AREA ALL OVER THE WORLD

You life would change for better the day you realize that envy is bad .

Epstein:
dead on arrival........

NASTYNASOSO:
HMMMMMM

BECAUSE IT IS A VERY DICEY AND DELICATE VENTURE.

ONLY THE BEST AND TESTED BUSINESSMEN VENTURE INTO THAT AREA ALL OVER THE WORLD

after now they will say northerner are monoplolising everthing.

ok

ahiboilandgas:
Why cant tinubu , jame ibori ,auther eze build refinery?....

Because they lack the sense refinery builders have.

And the location is?

olisaEze:
Privatize our refineries dem no gree! In d end, we’re all waiting for someone to sink his billions into building a private refinery like he only doing it to beat Santa Claus in dash dash!

No sensible person will buy your old moribund refineries, and those sinking their money into building refineries are not santa claus but very astute profit makers who take advantage of opportunity.

Cyberterror:
This is a welcome development. Fulani people are trying. It's just their herdsmen who are causing problems for everybody and damaging the image of the good ones among them.

If the so-called developments were coming from Igbo people under a Nigerian government led by Igbo people, every dumb fool in the shithole called Nigeria would have been shouting Igbo domination all year long.

ahiboilandgas:
after now they will say northerner are monoplolising everthing.

Sounds to me like they already monopolized in the get sense department and good on them.