Refinery - capitaltimesnews.com

CapitalTimesNews / 2 months

2 min read

The Dangote Group has announced a strategic partnership with Honeywell International Inc to support a major expansion of the Dangote Petroleum Refinery. This collaboration is designed to increase the refinery’s processing capacity to 1.4 million barrels per day by 2028, a significant step towards the company’s long-term vision of building the world’s largest petroleum refining complex. Under the agreement, Honeywell will supply specialized catalysts, equipment, and process technologies. These technologies will enable the refinery to process a wider range of crude grades more efficiently while also enhancing final product quality and operational reliability. A Dangote Group representative stated, “This collaboration will provide advanced technology and services that will enable the refinery to increase its processing capacity, marking a major milestone in our long-term vision.” Honeywell’s division UOP is not a new partner, having worked with Dangote since 2017 by providing proprietary refining systems and other critical technologies. The partnership is also expanding beyond refining. Dangote Group is scaling its polypropylene production to 2.4 million metric tons per year using Honeywell’s Oleflex technology. Polypropylene is a vital material used in packaging, manufacturing, and the automotive industry. In a separate but related development, Dangote Group is moving forward with the next phase of its fertiliser growth plan in Nigeria. The company plans to dramatically increase its urea production capacity from the current 3 million metric tons per year to 9 million metric tons annually. The existing facility has two production trains. The expansion will add four more trains to meet rising demand for high-quality fertiliser in Africa and global markets. The company reiterated its commitment, saying, “Dangote Group remains fully committed to delivering world-class industrial capacity, strengthening Nigeria’s energy security, and driving sustainable economic growth through long-term investment, innovation, and strategic global partnerships.”

BUA REFINERY PROJECT THREATENED AS COMMUNITY ACCUSES FIRM OF ILLEGAL LAND ENCROACHMENT

Nicolas Adekeye / 1 year
0
3 min read

A fresh crisis is brewing at the BUA Refinery and Petrochemicals located in Akwa Ibom state as the Ekid community accused the oil firm of illegally encroaching into their land The community has threatened to shut down the refinery complex, insisting that the Stubbs Creeks Forest, where the project is located, is their territory. The dispute follows a lingering disagreement between the Ekid community and their neighbours, Ibeno, over the ownership of the said land. According to the Ekid people, BUA Refinery and Petrochemicals should have followed the footsteps of Mobil Producing Nigeria, which had its operational base in the area, by meeting with the landowners and paying compensation accordingly before acquiring the land. Udonsak In a document submitted to the Akwa Ibom State Land Use and Allocation Committee, the National President of Ekid People’s Union, Dr Samuel Udonsak, accused BUA of illegal encroachment on their land without following the due process. “ExxonMobil Qua Iboe Terminal is situated in the Stubbs Creek Forest Reserve. It was first dereserved, then the land acquired and compensation paid to the Ekid people who are the landowners of the Stubbs Creeks Forest,” Dr Udonsak said. “This is how land can be acquired in the Stubbs Creek Forest, and nobody should be cajoled by greed for lack of knowledge to regard Ibeno as landowners of the Stubbs Creek Forest. That is what BUA ought to have done and must now do. Identify the area of its interest, meet the landowners (Ekid people), and we would be delighted to meet with them,” Dr Udonsak added. The community insisted that BUA must secure a lease from the Ekid people, the landowners, before approaching the government for land titles. “With the secured lease terms from Ekid, the landowners, BUA would then approach the government for land titles as appropriate, anything less than that amounts to criminal encroachment and Ekid people will resist it until eternity,” Dr Udonsak said. The Stubbs Creeks Forest Reserve, also known as Akoiyak Ekid, is a gazette forest reserve in Akwa Ibom state, established in 1930. The reserve has attracted several researchers from within and outside Nigeria, as it is considered a hotspot for biodiversity, especially its floral and faunal resources. In 2021, a public dispute emerged between Eket and Ibeno Local government areas of Akwa Ibom State on the ownership of Stubbs Creek forest reserve. This dispute was intensified following the interest of BUA Group of Companies in the forest. The BUA Refinery and Petrochemicals project, which is being developed by BUA Group, a Nigerian conglomerate, aims to strengthen Nigeria’s refining capacity, reduce the country’s dependence on imported fuels and petrochemicals, and help build a stronger industrial and manufacturing base for Nigeria. Once completed, the refinery will produce high-quality gasoline, diesel, jet fuel, and propylene, all meeting Euro-V specifications. The project is backed by Abdul Samad Rabiu, the founder and chairman of BUA Group, and Axens, a company that provides technologies and equipment for the oil and petrochemical industry. Management has said that the refinery will be completed by the end of 2025. However, the dispute over the ownership of the land is one of the reasons for the slow pace of progress on the refinery project, according to the community.

DANGOTE REFINERY EXPLAINS RECENT FUEL PRICE ADJUSTMENT, ABSORBS 50% OF GLOBAL CRUDE OIL PRICE HIKE

Nicolas Adekeye / 1 year

2 min read

World’s Petroleum refinery giant, Dangote Petroleum, has attributed the recent adjustment in its ex-depot price of Premium Motor Spirit (PMS) to the significant increase in global crude oil prices. The refinery consequently adjusted its ex-depot price from N899.50 to N950 per litre, representing a 5% increase. In a statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, the increase is directly related to the fluctuation in global crude oil prices. “As crude remains the primary input in the production of PMS, any fluctuation in its international price inevitably impacts the cost of the finished product,” Chiejina said. The refinery noted that the 5% increase is considerably lower than the 15% rise in global crude oil prices, which has seen Brent Crude rise from $70 to $82 in a matter of days, in addition to the premium for Nigerian crude (approximately $3 per barrel) in international markets. Chiejina added that Dangote Refinery has maintained the Single-Point Mooring (SPM) ex-vessel price at N895 per litre. He also stated that it has absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT). According to him, “Dangote Refinery has absorbed approximately 50% of the cost increases in the international oil market. This is due to our unwavering commitment to quality and affordability, as well as the ownership of the refinery by Nigerians, which remains central to our mission,” . Dangote refinery emphasized its commitment to providing reliable, top-quality petrol to Nigerians at competitive prices. “We are committed to providing reliable, top-quality petrol to the Nigerian people at competitive prices. In these challenging times, we continue to prioritise the best interests of Nigerians, striving to shield consumers from the full impact of global price volatility while adapting to evolving market conditions,” Chiejina stated. Chiejina also expressed gratitude to President Bola Ahmed Tinubu for the introduction of the Naira for Crude Initiative, which has enabled consistent access to high-quality PMS for all Nigerians, while also insulating Nigerian consumers from the volatility of the global oil market.

FORMER PRESIDENT OBASANJO REVEALS NNPC REJECTED $750 MILLION OFFER FROM ALIKO DANGOTE TO MANAGE PORT HARCOURT AND KADUNA REFINERIES

Nicolas Adekeye / 1 year

2 min read

Former President Olusegun Obasanjo has revealed that the Nigerian National Petroleum Corporation (NNPC) rejected a $750 million offer from billionaire businessman Aliko Dangote to manage Nigeria’s Port Harcourt and Kaduna refineries in 2007. According to Obasanjo, Dangote made the offer through a public-private partnership (PPP) initiative, but NNPC turned it down due to its own inability to efficiently operate the refineries. Obasanjo recounted the events, saying, “Aliko got a team together, and they paid $750 million to take part in a PPP to run the refineries. My successor refunded their money, and I went to him to explain what happened. He said NNPC insisted on running the refineries themselves, claiming they could manage them, but I told him they could not”. Obasanjo expressed his frustration with NNPC’s decision, stating that the corporation was aware of its inability to effectively manage the refineries. He also questioned why NNPC is now working with Dangote, saying, “Not only will he make it (his refinery) work, he (Dangote) will make it deliver”. The former president’s revelation has sparked controversy, with many questioning NNPC’s decision to reject Dangote’s offer. Obasanjo’s comments come as the NNPC has invited him to tour the Port Harcourt and Warri refineries, which have recently undergone rehabilitation. However, Obasanjo has rejected the invitation, calling it “disrespectful”. Olusegun Obasanjo is a pivotal figure in Nigerian politics, having served as the country’s head of state from 1976 to 1979 and later as president from 1999 to 2007.

PRESIDENT TINUBU COMMENDS NNPCL OVER RE-OPENING OF WARRI REFINERY

Nicolas Adekeye / 1 year

2 min read

President Bola Tinubu has expressed his profound joy at the re-opening of the Warri Refining and Petrochemical Company by the Nigerian National Petroleum Company Limited, describing it as another remarkable achievement in 2024 that has strengthened Nigerians’ hope in his administration. This development comes weeks after NNPC Limited restarted the 60,000 Barrels per day at the Port Harcourt Refinery in November, as stated in a press statement signed by Special Adviser to the President (Information & Strategy), Bayo Onanuga. According to President Tinubu, the re-opening of the Warri Refinery is a significant milestone in his administration’s determination to ramp up local refining capacity and make Nigeria a hub for downstream industrial activities in Africa. He praised the Mele Kyari-led management of the NNPCL for working hard to restore Nigeria’s glory and pride as a major oil-producing country. “The restart of Warri Refinery today brings joy and gladness to me and Nigerians. This will further strengthen the hope and confidence of Nigerians for a greater and better future that we promised,” President Tinubu said. The Warri Refinery, which has been inactive for several years, is now operating at 60% capacity, producing 125,000 barrels per day. President Tinubu noted that this achievement is a testament to his administration’s comprehensive plan to ensure energy efficiency and security. Bayo Onanuga stated that President Tinubu congratulated Mele Kyari and his team at NNPCL for their hard work in restoring Nigeria’s national pride and making Nigeria a hub for crude oil refining in Africa. President Tinubu also urged NNPCL to accelerate repair work on Kaduna Refinery and the 150,000 barrels per day second refinery in Port Harcourt to consolidate Nigeria’s position as a global energy provider. The reopened Warri Refinery Petrochemical Company will focus on producing and storing critical products, including Straight Run Kerosene, Automotive Gas Oil, and heavy and light Naphtha.

GOVERNOR DIRI RAISES ALARM OVER USE OF WOMEN AND CHILDREN AS HUMAN SHIELDS AT ILLEGAL REFINERY SITES

Nicolas Adekeye / 1 year

2 min read

Nicolas Adekeye, Bayelsa State Governor, Senator Douye Diri, has expressed concern over a new trend in oil bunkering, where children and women are being used as human shields at illegal refining camps. This disturbing revelation was made during a meeting with first-class traditional rulers in the state and local government chairmen in Government House, Yenagoa. According to a statement signed by Chief Press Secretary to Bayelsa Governor, Daniel Alabrah, Governor Diri condemned the use of innocent lives as shields, stating that “the report I received recently is that at illegal bunkering sites, they now have children and women, which is a dimension I have never heard before.” He emphasized that this trend is not only alarming but also poses a significant threat to the safety and well-being of these vulnerable individuals. Governor Diri revealed that security operatives had discovered this trend during reconnaissance operations, and in some cases, the military had to withdraw from destroying the camps due to the presence of children and women. He urged the monarchs and council chairmen to take immediate action to curb this menace, which is prevalent in Southern Ijaw, Ekeremor, Brass, and Nembe council areas. The governor also charged the monarchs to report any oil bunkering sites in their domains to him, stressing that a collaborative effort is necessary to address this issue. As noted by Chief Press Secretary to Governor Diri, Daniel Alabrah, the governor is committed to finding a lasting solution to this problem and ensuring the safety and security of all Bayelsa residents.

FRESH ATTACK IN KATSINA:...

TROOPS DESTROY ISWAP DETENTION...

‘LIVINIG HISTORY ‘ TEXTBOOK...

SENATE MOVES TO INCREASE...

NIMET DEBUNKS ₦5TRN LOSS...

BESPOKE HOLDINGS MD OLATUNJI...

DANGOTE GROUP PARTNERS WITH HONEYWELL INTERNATIONAL TO BOOST REFINERY CAPACITY TO 1.4 MILLION BARRELS PER DAY

BUA REFINERY PROJECT THREATENED AS COMMUNITY ACCUSES FIRM OF ILLEGAL LAND ENCROACHMENT

DANGOTE REFINERY EXPLAINS RECENT FUEL PRICE ADJUSTMENT, ABSORBS 50% OF GLOBAL CRUDE OIL PRICE HIKE

FORMER PRESIDENT OBASANJO REVEALS NNPC REJECTED $750 MILLION OFFER FROM ALIKO DANGOTE TO MANAGE PORT HARCOURT AND KADUNA REFINERIES

PRESIDENT TINUBU COMMENDS NNPCL OVER RE-OPENING OF WARRI REFINERY

GOVERNOR DIRI RAISES ALARM OVER USE OF WOMEN AND CHILDREN AS HUMAN SHIELDS AT ILLEGAL REFINERY SITES

FRESH ATTACK IN KATSINA: OVER 20.

TROOPS DESTROY ISWAP DETENTION CAMPS DEEP.

‘LIVINIG HISTORY ‘ TEXTBOOK NOT APPROVED.

SENATE MOVES TO INCREASE FG’S REVENUE.

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