Will Nigeria’s biggest oil refinery boost refining capacity?
Sunday Alamba/Copyright 2023 The AP. All rights reserved Africa’s biggest oil refinery has begun production in Nigeria, the company has said, ending a yearslong wait for a plant that analysts said Monday could boost refining capacity in a region heavily reliant on imported petroleum products.
When did Nigeria start refining oil?
Refining in Nigeria began a decade after oil was discovered in the oil-rich Niger Delta region in the 1950s. Initially starting out in 1965 with a refining capacity of 38,000 barrels per day (bpd), Nigeria’s refining capacity has grown over the years and is considered the 4th largest in Africa.
How many refineries are there in Nigeria?
Nigeria is Africa’s largest crude oil producer, with four existing but non-functional refineries. Even if they are working at total capacity, they will only meet about 11.8 per cent of the nation’s consumption needs (Ogbuigwe, 2018).
Are there opportunities for refining petroleum products in Nigeria?
In spite of the above, opportunities exist for interested investors to go into refining of petroleum products in Nigeria. Even if all the existing refineries were operating at maximum capacity, there still exists a robust demand for petroleum products in Nigeria.
After-sales Service Provided: No after-sales service, Free spare parts, Field installation, commissioning and training, Video technical support, Online support, Engineers available to service machinery overseas
