Midwestern part of a new proposed refineryAnyone know the location of this proposed refinery in relation to the Mart/Midwestern concessions and pipelines? It seems obvious that Midwestern, through its Chairman who has raised $100's of millions for his other business ventures should be able to raise the $ to buy MMT out. I think the fear will they try to gain MMT by more devious means and hopefull there are safeguards built into the contracts that would prevent that.
By Roselina Okere Energia Nigeria limited, a Joint Venture Operator of the Ebendo/Obodeti Marginal Field, has concluded plans to build 30,000 barrels per day (bpd) refinery with its partners to reduce the impact of fuel importation in the country.
The refinery, which the company will commence alone with a 5,000 barrels capacity modular refinery is expected to be expanded further with the contribution from its partners.
The Managing Director and the Chief Executive Officer of the firm Felix Amiieye -Ofori who made this disclosure in Lagos, explained that Energia is a 100 per cent Nigeria firm beginning from board of Directors to the least staff, has already procure a parcel of land in Ndokwa area of Delta state ,and carried out Environment Impact Assessment (EIA ) of the land where the refinery will be located.
He added that lack of refinery in the country has given impetus for importation of which is fast depleting national reserve via importation and payment of fuel subsidy.
He listed his partners to include, Midwestern Oil and Gas, Pillar Oil, Chorus Energy and Flatform Petroleum Limited.
According to him, if United States of America carries the threat of being self sufficient in oil production with the classification of world energy template into suppliers and buyer where it claimed to be suppliers of fuel to world , noting such action will result in oil glut , there by crashing pries to $20 per barrel , he added higher percent of Nigeria crude will be consumed locally and other parts of West Africa which gives credence to the building of the new refinery.
Speaking on the firm crude oil production, he said Energia currently produces 6000 barrels daily , but will shore up production to 9000 barrels by July this year. "We have the capacity to shore up our production, we stopped the Capex because of the drop in oil prices , we are still drilling our wells ,assets and reserve will be increased to 15 ,000 barrels by next year.
He explained that Energia wants to consolidate its position on the feat so far attained, adding that his firm is waiting patiently to take oil blocks to be divested by the Multinational firms . "we know that a lot of Multinational oil firms will be divesting some of their assets at the onshore concessions , we are wholly Nigerian company , we are capable to acquire some these assets when the owners are willing to divest . our board members and contractors are Nigerians