Refining & Processing

Chinese energy firm returns for Uganda oil refinery project talks

October 13, 2017 | Refining & Processing, Uganda

Kampala, Uganda | – Chinese consortium Guangzhou DongSong Energy Group Company has returned to negotiations with Uganda for the planned 60,000 barrels-per-day refinery. Their return comes just weeks after the unceremonious sacking of Energy Permanent Secretary Dr Stephen Isabalija about whom the company had expressed displeasure. Sources say that the government is also considering exiting all financial investment in the refinery as it seeks an investor ready to cover the entire project cost. The new development also comes as parliament pushes government to share more …

Indonesian firm to build crude oil refinery in Nigeria

June 22, 2017 | Downstream, Nigeria, Refining & Processing

Lagos, Nigeria | –  Indonesian engineering firm PT Intim Perkasa has expressed an interest in building a refinery in Nigeria, the West African country’s state oil company said on Wednesday. Nigeria has been seeking investment in the sector to reduce reliance on imported oil products that consume a large portion of the OPEC member’s scarce foreign currency reserves.  Its existing, ageing refineries produce hardly any fuel after years of neglect. A representative of PT Intim Perkasa Nigeria Ltd, a subsidiary of the Indonesian company, indicated …

Nigeria requires $1.2 billion to repair and upgrade its three refineries

June 12, 2017 | Economy, Nigeria, Refining & Processing

Abuja, Nigeria |  – The Nigerian minister of state for petroleum Emmanuel Ibe Kachikwu has said $1.2 billion is required to carry out repairs and refining upgrades if Nigeria needs to terminate its dependence on refined oil imports in two years’ time. Even though Nigeria pumps two million barrels of oil per day, the country’s lack of working refineries forces the government to use its foreign currency reserves to purchase refined oil products from other nations. In a press conference regarding refineries upgrade financing plan …

Nigerian Senate votes to halt Eni’s Port Harcourt refinery deal

June 02, 2017 | Management, Nigeria, Refining & Processing

Abuja, Nigeria | Nigeria’s upper chamber of parliament voted on Tuesday to halt a concession agreement with the local division of Italian oil company Eni to repair, operate and maintain Port Harcourt refinery, saying the deal lacked transparency. Nigeria, an OPEC oil producer, has been seeking investment in its energy sector to reduce reliance on imported oil products that consume a large part of the country’s foreign currency reserves. It has a refining capacity on paper of 445,000 barrels per day (bpd), but imports most …

Nigeria’s Q1 refinery output boosted by Niger Delta peace -NNPC

May 19, 2017 | Company Operations, Nigeria, Refining & Processing

Port Harcourt, Nigeria | – Nigeria’s refineries processed 10 million barrels of crude oil in the first quarter, more than they did for the whole of 2015, after talks with militants reduced attacks on facilities, the head of the Nigerian National Petroleum Corporation (NNPC) said. OPEC member Nigeria has a refining capacity of 445,000 barrels per day (bpd) but imports most of its fuel as its three refinery plants have been shut or are running at reduced capacity due to years of neglect, vandalism and …

South Africa open to Iranian investment if new refinery goes ahead

May 19, 2017 | Budget & Investment, Refining & Processing, South Africa

Cape Town, South Africa | – South Africa, a net importer of refined oil products, is looking to West Africa and the Middle East, including Iran, for potential partners on a new refinery project, energy ministry officials said on Friday. Energy minister Mmamoloko Kubayi told parliament that the cabinet expects to decide by December whether to build the refinery that has been under consideration for almost a decade. National oil company PetroSA has promoted the idea of building a refinery with a capacity of up …

Italian oil major Eni to build 150,000 bpd oil refinery in Nigeria

May 11, 2017 | Nigeria, Refining & Processing

London, UK | – Italian multinational  oil group Eni’s Nigerian subsidiary Agip is planning a 150,000-barrel per day refinery as part of efforts to reduce imports, Nigeria’s oil minister Emmanuel Ibe Kachikwu said. Kachikwu met representatives from Eni and said agreement had been reached to build the facility in the southern oil hub of Port Harcourt or along the coast in Brass, he said late Tuesday, 9 May. While details of the firm’s new investment were still being worked out, “they have accepted and are …

Morocco gets $3billion offer to purchase its sole oil refinery

December 30, 2016 | Asset Acquisitions & Divestitures, Morocco, Refining & Processing

London, UK | – Morocco’s only oil refinery, Samir, has received a $3 billion offer from an Italian law firm operating on behalf of an unnamed bidder, Reuters has reported. Samir’s management said however, that they would press ahead with plans to seek expressions of interest from other potential buyers. A company official, who declined to be named, told Turkey’s state-owned Anadolu Agency that the offer exceeded the company’s value. A union official in Samir, Al-Hussein Al-Yamani, said that his union was “waiting for the court’s official announcement of …