In a significant move to enhance Nigeria’s refining capacity, the Federal Government has granted a licence for the construction of a new refinery in Delta State....CLICK HERE TO CONTINUE READING.>>
The Nigerian Midstream and Downstream Petroleum Regulatory Authority announced that MRO Energy Limited has been approved to build a refinery with an output capacity of 10,000 Barrels Per Stream Day (BPSD) at Imode in Ughelli as reported by The PUNCH.
Thank you for reading this post, don't forget to subscribe!This decision comes just two months after another licence was awarded to Process Design and Development Limited to establish a larger refinery capable of processing 27,000 barrels per day in the Gombe State locality of Dole-Wure. Engr. Farouk Ahmed, Chief Executive of the authority, officially presented the licence to MRO Energy Limited via an announcement on its official X handle.
With this latest approval, Nigeria is now positioned with approximately 11 modular and conventional refineries, potentially boosting its overall refining capabilities significantly.
Earlier this month, there was also news from the Petroleum Products Retail Outlets Owners Association of Nigeria about their collaboration aimed at launching yet another refinery with an ambitious initial capacity of 50,000 barrels per day.
However, despite these optimistic developments regarding new refineries entering the sector, many existing facilities remain underutilized or inactive. Issues surrounding inefficiency persist across numerous plants which fail to operate at full capacity.
The Nigerian Upstream Petroleum Regulatory Commission has set an impressive target for domestic refineries to process up to **770 million barrels** per day as part of ongoing efforts to stabilize fuel supply within the nation.
The government’s initiatives signal hope for revitalizing Nigeria’s oil sector but challenges related to operational efficacy continue to loom large over these advancements.…..For More READ THE FULL ARTICLE HERE ▶▶
