…Aiteo, Capital oil, Sifax licenses are inactive
By Oludare Mayowa
Nigeria on Wednesday said three modular refineries with a combined refining capacity of 26,000 have completed construction work and are at the commissioning stage.
According to the latest information from the Department of Petroleum Resources (DPR), the three refineries are among the 28 licensed by the government and are in various stages of realisation.
The department also stated that a number of modular refineries licensed by the government are at design and construction stages while others are yet to commence any work on their projects.
It named the completed and at the stage of commissioning as Edo Petrochemical Refinery Limited at Ikpoba, Edo State with 6,000 capacity, Niger Delta Petroleum Resources with 10,000 refining capacity and OPAC Refineerying Petrochemical, Ibigwe, Imo State with 10,000 capacity.
However, DPR said 29 firms received its licences to build refineries but have failed to fulfill the requirement and their licenses have become inactive.
Among those with inactive refining licenses are Sifax Oil and Gas Compay with 120,000 capacity, Capital Oil and Gas with 100,000 capacity and Aiteo Energy Resources with 100,000 capacity.
Dangote Oil Refinery Company, the biggest of them all with 650,000 capacity is currently under construction and will soon be completed while Bua Refinery & Petrochemicals Ltd with 150,000 is yet to commence design and construction, but DPR said Bua licence remain active as of date.
Nigeria currently depend largely on importations of refined products to meet domestic need with the four government refineries moribund.
It was hope that with the coming on stream of the 26,000 capacity modular refineries and the probable completion of the Dangote refinery next year, Nigeria will be able to meet its local fuel consumption with the surplus export to part of the continent.