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Nigerian company Petrolex plans to build a USD 3.5-billion, 250,000-bpd refinery by 2021

Petrolex plans refinery in Nigeria

LAGOS, December 7, 2017 – Nigerian company Petrolex plans to build a USD 3.5-billion, 250,000-bpd refinery by 2021, CEO Segun Adebutu told the media Wednesday.

 

The refinery is currently at the FEED stage, Adebutu said. Wood Mackenzie and Foster Wheeler have been selected to perform studies for the project. The facility will include an USD 8.5-million lubricants plant and USD 1.5 billion of associated structures. Next week the company plans to open its 300-million-litre tank farm.

So far Petrolex has reportedly invested USD 330 million in infrastructure. “This massive investment will make the company a one-stop energy provider not only in Nigeria but also in the sub-Sahara Africa,” Adebutu said.

Although Nigeria is one of Africa’s top producers of crude oil, it imports nearly 80% of its refined fuel needs. The shortage has prompted projects ranging from module refineries to the 650,000-bpd Dangote refinery.

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