Italian Giants Eni To construct Oil Refinery In Nigeria — Uganda In the present day
Abuja, Nigeria | AFP | Italian oil group Eni’s Nigerian subsidiary Agip is planning a one hundred fifty,000-barrel per day refinery as part of efforts to scale back imports, junior oil minister Emmanuel Ibe Kachikwu said.
Kachikwu met representatives from Eni and stated settlement had been reached to construct the facility within the southern oil hub of Port Harcourt or along the coast in Brass, he mentioned late Tuesday.
While details of the firm’s new investment had been still being worked out, “they have accepted and are preparing an MOU along this line,” Kachikwu added.
OPEC-member Nigeria produces some two million barrels of crude oil per day, but an absence of home refining capability means most refined petroleum crude oil rate usa merchandise like petrol should be imported, thus lowering the quantity of international alternate the crude oil rate usa country has for other imports.
“The impact of that is that oil firms working in Nigeria will start to migrate from solely exporting crude and begin to take a look at how to start out refining this crude in order that we will likely be able to fulfill our local consumption,” mentioned Kachikwu.
Nigeria’s existing four oil refineries produce below their installed capability owing to many years of corruption and inefficiency, and can’t supply the forty five million litres the nation consumes per day.
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