News

‘$1.5bn P’Harcourt refinery rehabilitation a national disservice, wasteful spending’

Ihesiulo Grace 25 May 2021 0

Success Nwogu A retired Deputy Director of the Department of Petroleum Resources, Engineer Sunday Adebayo Babalola, on Monday said the rehabilitation of the Port Harcourt Refinery Company at $1.5 billion is a national disservice and a wasteful spending. The Nigerian National Petroleum

Business News Oil & Gas

BUA Group diversifies into oil and gas, partners with French company Axens

Ihesiulo Grace 2 September 2020 0

BUA Group has strengthened its conglomerate by diversifying into oil and gas, Daily Times gathered. It signed a deal with France’s largest hydrocarbons group, Axens, who will now refine 200,000 barrels per day of crude oil in the country. the project would be located in Akwa Ibom state. In the contract that was signed between […]

Business

Refinery: Expert commends Buhari on Saudi, Russia deal

Ihesiulo Grace 3 November 2019 0

Abuja – Mr Chinedu Onyeizu has commended the Federal Government for signing a government backed partnership with Russia to revamp the nation’s refinery. Onyeizu gave the commendation in an interview with News Agency of Nigeria (NAN) in Abuja on Sunday. The Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari, at the […]

Business News

Egyptian Petroleum Corporation gets $200m Afreximbank facility

Ihesiulo Grace 7 August 2018 0

The African Export-Import Bank (Afreximbank) has disbursed the sum of $200 million to the Egyptian General Petroleum Corporation (EGPC) to support EGPC’s investment in the Middle East Oil Refinery Company (MIDOR). The disbursement was done during a signing ceremony in Cairo on August 1. Afreximbank’s Head of Communications and Event Department, Mr Obi Emekekwue, also […]

Headlines News

FG working to enhance status of oil & gas in nation’s economy

Ihesiulo Grace 20 February 2018 0

.To raise domestic refining by 90 per cent in 20 months The Federal government of Nigeria, has said that the country will sooner than later become one of the world biggest economy through oil and gas exploration, just as the new initiative of Nigeria international petroleum summit NIPS is designed to introduce latest technology and […]

Business Headlines

CBN to spend $500,000 on 1st bio- diesel refinery

Ihesiulo Grace 14 August 2017 0

*Project to be completed in Kogi by 2018 *Jatropha farmers’ cooperatives to get N1m The Central Bank of Nigeria (CBN), through the Bank of Industry (BOI), is poised to enhance in bio-diesel refining in the continent with the establishment of the first bio-diesel refinery in Kogi, which will gulp $500,000. The project is expected to […]

Energy

US approves N360m grant for modular refinery in Nigeria

Ihesiulo Grace 14 August 2017 0

…… pledges support for 20,000 BPD The United States United States Trade and Development Agency (USTDA), has approved a grant of $1 million (N360 million) for the detail engineering design of 20,000 barrel per day modular refinery in Lagos. The he US Ambassador to Nigeria, Mr Stuart Symington, during the official signing of the Memorandum […]

News

FG Is Developing A Framework For Modular Refinery In Nigeria-Osinbajo

Ihesiulo Grace 16 June 2017 0

Acting president Yemi Osinbajo says the federal government is developing a framework that would allow any one with proven record to run modular refinery in Nigeria. Professor Osinbajo who said this at the modular refineries association of Nigeria discussion forum in Abuja on Thursday, noted that the present administration is committed to creating an enabling […]

Business Headlines

Dangote raises stake in refinery, to become world’s largest

Ihesiulo Grace 23 March 2015 0

The Dangote Group has announced plans to raise its initial proposed refinery capacity from 450,000bpd to 650, 000bpd, to make it the refinery with the largest capacity in the world. On completion, Nigeria would be listed as having the largest petroleum refinery in the world, Africa’s richest man and president of the Pan-African conglomerate, the […]