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What the $1.5 billion Port Harcourt refinery deal means to us – Maire Tecnimont

Marie Tecnimont intends to use the Port Harcourt refinery deal to strengthen its footprint in Nigeria.

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The rehabilitation deal of the Port Harcourt refinery signed by the Nigerian National Petroleum Corporation (NNPC) and Marie Tecnimont means a lot to both Nigeria and the Italian firm.

While Nigeria sees the rehabilitation exercise as a way to restore the facility’s old glory and boost petroleum products production in the nation, the management of Tecnimont sees the development from a different angle.

The company, which is listed on the Milan Stock Exchange, intends to use the deal to strengthen its footprint in Nigeria.

READ: $1.5 billion refinery rehabilitation is brazen and expensive adventure – Atedo Peterside

This was disclosed by the company in a statement issued and seen by Nairametrics on Tuesday.

It stated, “The overall contract value is about $1.5 billion. The project entails engineering, procurement and construction (EPC) activities for a full rehabilitation of the Port Harcourt refinery complex, aimed at restoring the complex to a minimum of 90% of its nameplate capacity.

The complex is composed of two refineries totalling an overall capacity of approximately 210,000 bpd (barrels per day). The project will be delivered in phases from 24 and 32 months and the final stage will be completed in 44 months from the award date.”

Pierroberto Folgiero, Maire Tecnimont Group Chief Executive Officer, stated: “With this great result we confirm the soundness of our business strategy on geography diversification, as one of its key elements is to grow and assist our clients in their revamping initiatives, leveraging on our technological know-how to ensure more efficient and environmentally better performing processes and products.

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READ: Is rehabilitating the Port Harcourt refinery necessary? -The $1.5 billion question

It represents a testament to our technological DNA, as we are strongly increasing our focus on initiatives for the modernization of the refining sector, such as these strategic rehabilitation works.

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Moreover, we enhance our footprint in Nigeria and in Sub-Saharan Africa, a market with excellent downstream prospects given its demographics and the necessity to unlock greater added value from the transformation of natural resources. We are eager to keep on supporting a leading player in the area such as NNPC to develop Africa’s downstream sector.

What you should know about Maire Tecnimont S.p.A.

It heads an industrial group that leads the global natural resource conversion market (downstream oil & gas plant engineering, with technological and executive expertise).

Its subsidiary NextChem operates in the field of green chemicals and technologies in support of the energy transition. The Maire Tecnimont Group operates in approx. 45 countries, through approx. 50 operative companies and about 9,000 people.

Stanbic 728 x 90

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

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Business

NPA suspends Electronic Call-up for trucks at APM terminal, Apapa

This follows a fallout of the dispute between members of the Maritime Workers Union and the management of AP Moller Terminals.

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 Onitsha River Port Set To Receive 1000 Containers from Lagos Next Week

The Nigerian Ports Authority (NPA) has announced the suspension of the Electronic Call-up for trucks (ETO) for cargoes bound for the AP Moller Terminal (APMT) in Apapa.

This follows the disruption of operations at the terminal which is a fallout of the dispute between members of the Maritime Workers Union and the management of AP Moller Terminals.

This disclosure is contained in a series of tweet posts by NPA on its official Twitter handle on Thursday, April 15, 2021.

The NPA said that while it is working towards resolving the dispute between both parties, APMT will not receive or exit cargoes for the next 24 hours.

The tweet from NPA reads, ”Following a dispute with the management of AP Moller Terminals at the Lagos Ports Complex, Apapa, members of the Maritime Workers Union have today, April 15, disrupted operations at the terminal.

While the NPA is working toward resolving the dispute between the two parties, APMT will not be able to receive or exit cargoes for the next 24 hours.

The authority hereby urges stakeholders to please take note, as ETO tickets will not be issued to APMT bound cargoes.’’

What you should know

  • There were earlier reports that the Maritime Workers’ Union of Nigeria (MWUN) on April 15 shut down AP Moller Terminal (APMT) in Apapa.
  • The President-General of MWUN, Mr Adewale Adeyanju, disclosed that the grounding of activities at the terminal is due to the expiration of the one week plus notice given to the management of the terminal to adhere to the laws of the land.

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NCC issues NIN enrollment guideline for foreigners living in Nigeria

All legally resident foreigners are required to obtain a NIN just like Nigerian citizens.

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Nigerian Communication Commission (NCC) has issued NIN enrollment guidelines for foreigners living in Nigeria.

According to NCC, all persons in Nigeria who use mobile networks are required to register their SIM cards and link them with the NIN database.

This was disclosed by the commission via its Twitter handle on Thursday.

READ: Here are 6 directives NCC gave MTN, Airtel, others on SIMs without NIN

It tweeted, “All persons in Nigeria who use mobile networks are required to register their SIM cards and link them with the NIN database.

All legally resident foreigners (i.e. non-Nigerians living and working in Nigeria) are to obtain a NIN just like Nigerian citizens. They can do this by submitting valid resident/work permits at NIMC enrolment centres.

However, foreigners on tourist or visiting visa are to tender their international passports to acquire a SIM. But where such a visiting foreigner or tourist’s immigration status changes to residency or work permit, he/she will be required to obtain NIN and link the registered SIM.”

READ: Beware of fake NIN app, NIMC warns Nigerians

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It added that the NIN does not confer citizenship on foreigners but only serves to identify a person (citizens and legal residents).

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