Newsfront Online …Telling the Public as it is
Nigerians will soon have another operational refinery , this time located in Ibeno , Akwa Ibom .
The refinery project , which is set to be completed next year has received more construction materials from China. It is expected to have the capacity to refine 200,000 barrels of crude oil daily .
A Chinese cargo ship , laden with a consignment of the refinery project , has berthed in Calabar port in Cross River state. The development is a significant milestone in the construction of a state-of-the-art refinery in Akwa Ibom state .
It could be recalled that two refinery projects are expected to be located in Ibeno and Onna local government areas, with Ibeno being promoted by the BUA Group of companies. The BUA refinery will have the capacity to produce 200,000 barrels of petroleum products per day, including Euro-V fuels, gasoline, diesel, jet fuel, LPG, and polypropylene for the domestic and regional markets.
In a statement, BUA Group chairman and chief executive officer, Mr Abdulsamad Rabiu, said that when completed, the refinery will help reduce Nigeria’s dependence on imported fuels and petrochemicals. His words, “the refinery and petrochemicals project is in line with BUA’s vision to develop local capacity in key industries where we can add the most value and raw materials can be sourced locally.
“Once completed, this RFCC-based complex will produce high-quality gasoline, diesel and jet fuel meeting Euro-V specifications for the Nigerian and larger regional markets”. According to Oil and Gas Journal, Rabiu promised in 2021 that the Akwa Ibom refinery will launch in 2024.
