Showing posts with label Nigeria oil refinery news. Show all posts
Showing posts with label Nigeria oil refinery news. Show all posts

Africa Richest Man gets $3.3 billion Loan to build Oil Refinery

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When it comes to huge investments, only this can makes things happen. He has shown to have magic fingers when it comes to investing.No fewer than 12 local and international banks have loaned Africa's richest man and foremost industrialist Aliko Dangote $3.3 billion to build Nigeria’s biggest petroleum refinery and petrochemical/fertilizer plants.


The banks are: Standard Chartered Nigeria, Guaranty Trust Bank, Fidelity Bank, Ecobank Nigeria, United Bank for Africa, Access Bank, Zenith Bank, Standard Bank of South Africa, Diamond Bank, First Bank Nigeria, First City Monument Bank, and FirstRand Bank. 

Standard Chartered is the global co-ordinator, while Guaranty Trust Bank is the local co-ordinator.

According to a statement released by Dangote Group a few days ago, the factories they plan to build will create about 9500 direct and 25 000 indirect posts. These plants will cut the existing volumes of refined fuel that are imported by almost half which will end the importation of fertilizer in Nigeria.

As a result, several African nations will be less reliant on importing fuel and fertilizer from foreign markets, reducing the negative impact of negotiating terms within increasingly turbulent international markets.
Source:Lindaikeji
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Police recover bodies of murdered NNPC engineers

 The Inspector-General of Police Special Task Force on Anti-Pipeline vandalism  has recovered the  bodies of  three staff of  Pipelines and Product Marketing Company, PPMC, a subsidiary of the  Nigerian National Petroleum Corporation, NNPC, who were killed by pipeline vandals at Arepo, Ogun State, last month.
 
One of the bodies which were in their decomposing states  was identified as that of the Deputy Manager in-charge of Pipelines Right of Way, PROW. They were recovered in two shallow graves around the creeks  where the vandals buried them.

The slain staff comprising engineers and technicians , met their unprepared end on September 8, 2012, after they had gone to put out the raging fire from a burst NNPC pipeline. They reportedly succeeded in putting out the fire which raged for three days and were about effecting repairs on the damaged part when the vandals stormed the scene.

The vandals as gathered, opened fire on them, killing three of them at the spot while others managed to escape with bullet wounds. Not yet done, the vandals thereafter, absconded with the copses of their victims.

Six suspects as gathered, were arrested during investigation by the Task Force, where one of the suspects identified as Imerepamu Joel told the operatives that he knew where  bodies of the dead staff were buried.

Head of the Task Force, Mr Friday  Ibadin, an Assistant Commissioner of Police, disclosed that it took the policemen six hours to sail to the spot.
Forty heavily armed policemen on speed boats and a patrol helicopter according to him were involved in the search.

Ibadin who spoke in Lagos at the weekend, said: “We found in a decomposing state, bullet-ridden bodies of the three victims. We learnt that the body of the local security guard employed by NNPC, Taye aka Dead Man, was cut into pieces and disposed off.

“Shortly after the incident, the Inspector General of Police, Mohammed Abubakar, reconstituted the dissolved Anti vandal team. It became important to get to the root of the incident that led to the death of these  officials. And in the cause of investigation, about six suspects were arrested. We gathered from the confession of one of the suspects, Imerepamu Ijebu Joel, that he knew where the NNPC staffers were buried.

“Initially, he took our team to a spot and after several hours, the bodies were not found. At night, the Ijaw boys attempted to dig one spot but  were stopped by the police who were on guard. And two days later he opened up and agreed to take us to the real spot.

“It took six hours of sailing to get to the spot. We had 40 heavily armed men, and we took along a pathologist, a coroner, and the medical team from NNPC that eventually identified the bodies. They took us to a place where they claimed they bury non natives. With the assistance of one John Bosco, Peter Opidi, and the suspect, Imerepamu Ijebu Joel, we were shown two shallow graves. It was there that we discovered the bodies and they have been deposited at a mortuary.”
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Three new refineries coming says Works minister

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Abuja – The Minister of Works, Mr. Mike Onolememen, says part of the benefits that will accrue to Nigerians from the withdrawal of fuel subsidy will be the building of three new refineries.

The minister who spoke at a forum in Abuja on Sunday said this would help Nigeria to process its crude and meet local consumption.

“Nigerians should know that this oil resource has been given to this country over the years have not been properly managed. We have another opportunity to get it right.

“Niger Republic and so many of our neighbouring countries are building refineries around us with the intention to sell to Nigeria and with this deregulation policy one of the major gains will be the building of three new refineries.

“I want Nigerians to know that when these new refineries are completed, we will be a net exporter of petroleum product and prices will begin to come down, just like we are witnessing in the telecommunications sector with the GSM regime.

“That is my message to Nigerians. Let us support government, let us join hands with government because government cannot and will not take any decision with the aim of punishing fellow Nigerians. It is impossible. So, Nigerians should have this at the back of their minds.’’

The minister said the refineries would be located in Lagos, Bayelsa and Kogi states.

“The one in Lagos is with the capacity of 200,000 barrels per day, while the ones in Kogi and Bayelsa have the capacity to produce 100,000 barrels per day,’’ Onolememen said.

He added that what would be produced by these new refineries would complement the production by existing refineries which would all have had their on-going turnaround maintenance completed.

The turnaround maintenance “will bring the production capacity of the existing four refineries to between 90 per cent and 95 per cent.’’

Onolememen expressed confidence that the increased level of production would enhance Nigeria’s status as a net exporter of petroleum products. (NAN)
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