%20Waltersmith%20Petroman%20Oil's%20modular%20refinery%20in%20Ibigwe,%20Imo%20State,%20Nigeria,%20whose%20completion%20was%20scheduled%20for%20earlier%20this%20year%20but%20had%20to%20be%20postponed%20due%20to%20the%20COVID-19%20pandemic%20is%20nearing%20completion.The%20refinery%20is%20to%20produce%20diesel,%20naphtha,%20heavy%20fuel%20oil%20(HFO)%20and%20kerosene%20within%20its%20first%20phase%20and%20produce%20petrol%20within%20its%20second%20phase.%20Five%20states%20in%20the%20South%20Eastern%20region%20of%20Nigeria%20are%20to%20have%20a%20daily%20supply%20of%20271%20million%20litres%20of%20refined%20petroleum%20products%20from%20the%20refinery. a%20href=https://ibekachikwu.com/wp-content/uploads/2020/11/84bfd056-d696-4414-8dc9-1af9e30791ad.jpgimg%20class=size-medium%20wp-image-3094%20aligncenter%20src=https://ibekachikwu.com/wp-content/uploads/2020/11/84bfd056-d696-4414-8dc9-1af9e30791ad-300x169.jpg%20alt=%20width=300%20height=169%20//a The%20notice%20of%20the%20completion%20was%20disclosed%20by%20the%20Chairman%20of%20the%20oil%20company,%20Abdulrasaq%20Isah,%20during%20a%20visit%20by%20the%20Group%20Managing%20Director%20of%20the%20National%20Oil%20Company,%20NNPC,%20Mele%20Kyari,%20who%20was%20represented%20by%20the%20Chief%20Operating%20Officer,%20Gas%20and%20power,%20to%20the%20refinery.Excerpts%20from%20the%20Chairman's%20statement:“We%20will%20be%20producing%20271%20million%20liters%20of%20petroleum%20products%20to%20meet%20some%20of%20the%20requirement%20of%20south%20eastern%20market,”“As%20we%20began%20to%20work%20on%20the%20modular%20refinery%20project,%20we%20started%20to%20see%20the%20economic%20value%20and%20impact%20on%20Nigeria.%20The%20project%20will%20also%20ensure%20import%20substitution,%20energy%20security%20for%20the%20nation,%20lower%20the%20company’s%20operating%20cost%20and%20create%20lots%20of%20jobs.”%5BThe%20plan%20of%20the%20company%5D%20is%20to%20significantly%20expand%20the%20refinery’s%20production%20capacity%20to%2050,000%20barrels%20of%20crude%20oil%20per%20day.”“We%20have%20started%20with%20the%20first%20module%20which%20is%205,000%20barrels.%20The%20next%20module%20will%20be%2025,000%20barrels.%20Then%20the%20finale%20module%20will%20be%2020,000.”Also%20commenting,%20the%20Managing%20Director%20of%20the%20company,%20Chikezie%20Nwosu%20said,%20“When%20the%20tankers%20start%20lifting%20products,%20you%20will%20see%20immense%20impact%20on%20job%20creation,%20growth%20of%20the%20SMEs%20in%20the%20communities%20around%20with%20the%20attendant%20growth%20of%20the%20local%20GDP.”Reacting%20to%20the%20statements,%20the%20GMD%20said,%20“It%20is%20a%20landmark%20achievement%20and%20it%20shows%20that%20we%20can%20actually%20refine%20our%20crude%20oil%20in-country.“We%20will%20work%20closely%20with%20Waltersmith%20to%20ensure%20that%20it%20gets%20enough%20crude%20feedstock%20it%20needs%20to%20operate%20seamlessly.%20We%20are%20also%20looking%20forward%20to%20the%20Phase%202%20of%20the%20project%20when%20the%20refinery%20will%20start%20producing%20premium%20motor%20spirit%20(PMS)%20which%20we%20largely%20need%20in%20this%20country.”){kind=link}
The 5,000 barrels per day (bpd) Waltersmith Petroman Oil’s modular refinery in Ibigwe, Imo State, Nigeria, whose completion was scheduled for earlier this year but had to be postponed due to the COVID-19 pandemic is nearing completion.
The refinery is to produce diesel, naphtha, heavy fuel oil (HFO) and kerosene within its first phase and produce petrol within its second phase. Five states in the South Eastern region of Nigeria are to have a daily supply of 271 million litres of refined petroleum products from the refinery.
The notice of the completion was disclosed by the Chairman of the oil company, Abdulrasaq Isah, during a visit by the Group Managing Director of the National Oil Company, NNPC, Mele Kyari, who was represented by the Chief Operating Officer, Gas and power, to the refinery.
Excerpts from the Chairman’s statement:
“We will be producing 271 million liters of petroleum products to meet some of the requirement of south eastern market,”
“As we began to work on the modular refinery project, we started to see the economic value and impact on Nigeria. The project will also ensure import substitution, energy security for the nation, lower the company’s operating cost and create lots of jobs.”
“[The plan of the company] is to significantly expand the refinery’s production capacity to 50,000 barrels of crude oil per day.”
“We have started with the first module which is 5,000 barrels. The next module will be 25,000 barrels. Then the finale module will be 20,000.”
Also commenting, the Managing Director of the company, Chikezie Nwosu said, “When the tankers start lifting products, you will see immense impact on job creation, growth of the SMEs in the communities around with the attendant growth of the local GDP.”
Reacting to the statements, the GMD said, “It is a landmark achievement and it shows that we can actually refine our crude oil in-country.”
“We will work closely with Waltersmith to ensure that it gets enough crude feedstock it needs to operate seamlessly. We are also looking forward to the Phase 2 of the project when the refinery will start producing premium motor spirit (PMS) which we largely need in this country.”