Home Business Wabote: Edo Refineries Set to Enhance Nigeria’s Capacity
Business

Wabote: Edo Refineries Set to Enhance Nigeria’s Capacity

Simbi Wabote, the Executive Secretary of the Nigerian Content Development and Monitoring Board, recently emphasized the substantial potential of the Edo Refinery and Duport Midstream Refinery in contributing to Nigeria’s refining capacity. Wabote shared this insight at the third Biennial International Conference on Hydrocarbon Science and Technology in Abuja, hosted by the Petroleum Training Institute. The theme of the conference was ‘The future of the oil and gas industry: opportunities, challenges, and development.’

Both refineries in Edo State, namely the Edo Refinery and Petrochemical Company in Ologbo, Ikpoba Okha Local Government Area, and the Duport Refinery within an integrated energy park in Egbokor, Orhionmwon Local Government Area, have shown promising progress. Together, they recently procured 300,000 barrels of crude from the Oza oil field and are actively producing diesel, naphtha, and Lour Pour Fuel Oil.

The Edo Refinery, initially backed by an investment of N700m from the government led by Governor Godwin Obaseki in 2019, is presently undergoing an expansion to increase its capacity to 12,000bpd. Notably, the NCDMB has a vested interest in the development of the Duport Refinery and is dedicated to its expansion.

Wabote expressed confidence in Nigeria’s potential to reach the target of 1.5 million bpd refining capacity by 2025. He highlighted various ongoing projects such as the 650,000 barrels per day Dangote refinery, the Bua Group refinery project, the Waltersmith modular refinery, Duport Midstream refinery, OPAC Refinery, Edo Refinery, Aradel Holdings refinery, as well as the existing refineries in Kaduna, Warri, and Port Harcourt, which collectively contribute 445,000 barrels per day.

According to Wabote, the successful completion of these projects will enable Nigeria to achieve a combined refining capacity of approximately 1.5 million barrels per day by 2025.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Brand TalkBusinessOpinion

NATCOMS Addresses Speculations on MTN’s Alleged Bid for 9Mobile

Amid ongoing speculation about the potential acquisition of 9mobile by MTN Nigeria,...

Business

Businesses Increase Salaries by N4.6 Trillion in a Half-Year Period, According to NBS

To address the escalating inflationary pressures in the nation, companies implemented an...

Brand TalkBusiness

Fadama Cares Empowers 200,000 Farmers in Ekiti State

The Fadama Care Office in Ekiti State has reported that over the...

BusinessGlobal News

OPEC Delays Meeting on Production Quotas for Nigeria and Angola

The meeting to finalize output levels for 2024, scheduled by the Organisation...