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Investors float $200m refinery in Edo

By Gabriel Enogholase
BENIN—A MODULAR refinery that is expected to process over 18,000 barrels of refined petroleum products per day is to be sited in Ologbo in Ikpoba/Okha local government area of Edo State by a group of American investors and their Nigerian counterparts.

The Ologbo Refinery Limited which would cost over $200 million is expected to be completed within 24 months.

Managing Director of the refinery, Deacon Amen Imuetiyan Osaghae, who disclosed this at a stakeholders’ consultative forum in Benin at the weekend, said that on completion, the plant will produce unleaded gasoline, kerosene (both domestic and aviation type), liquefied petroleum gas, diesel/AGO and fuel oil(black and residue).

He also disclosed that the refinery would be initially manned by about 20 American expatriates engineers and managers as well as about 350 qualified Nigerians, just as he also assured the host communities of employment opportunities.

He said the refinery would be configured to use crude oil grade produce UQCC NNPC/Shell installations at Ughelli, Forcados blend, adding that its products would be sold to the Independent Marketers and Petrochemical companies from its loading bays and marine jetties to be constructed.

“For future expansion, the refinery will provide feedstock and raw materials to the down stream industries  with capacities to process and produce such petrochemical products as : specialty solvents, liquid asphalt , mixed asphalt, ammonia, carbon black insecticides, among others product”, he said.

He disclosed that the next phase of the Plant would have additional modular unit of 6,000 BPD crude distillation unit, adding that the refinery was expected to produce 100,000 BPD.

The Managing Director said that the process of licensing the Refinery was already in progress with the relevant authorities, saying that the company hopes to make Ologbo the hub of the petroleum industry in the state.


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