In order to meet the growing demand for petroleum products in the country, Edo Refinery and Petrochemicals Limited will commence operation as a 6,000 barrels per day (bpd) capacity modular refinery in October.
With the support of the Edo State Government, the refinery is being developed by AIPCC Energy Limited.
Disclosing this development, the technical Director of AIPCC, sTim Tian, said the fabrication of the refinery had been completed in China and was awaiting inspection and the approval of the Department of Petroleum Resources (DPR) before it would be shipped to site in Nigeria.
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What you should know: According to Tian, AIPCC is looking forward to building a mini plant and at the same time capture some flared gas which will be processed into Liquefied Natural Gas (LNG) and be used as fuel to power the power plant that will be used to operate the refinery.
More so, plans have been made already for the refinery to get its feedstock (crude) from the Nigerian Petroleum Development Company’s (NPDC) facility – Oil Mining Lease (OML) 111, located in Oredo, Ologbo near Benin.
[READ ALSO: Fuel subsidy gulps N771 bIllion in NNPC’s spending over 13 months]
Why this matters: If the refinery finally commences its full operation, it will no doubt be a laudable development for Nigeria, as the country spent about N206.6 billion on fuel subsidy alone in two months.
