In the past three years, thirty-two refinery project licenses issued to private investors in the country have become invalid, according to the Department of Petroleum Resources.
The DPR said on Monday that the number of valid refinery project licenses stood at 23 as of March 2021, down from 44 in April 2018. An analysis of the agency’s new list of valid refinery project licenses and that of April 2018 showed that 32 licenses had become invalid while 11 new licenses were granted between May 2018 and March 2021.
As of April 2018, there were 38 proposed modular refineries with capacity ranging from 5,000 barrels per stream day to 30,000bpsd, and six conventional plants with a total capacity of 1.35 million bpsd.
The DPR had said then that 20 of the licenses were active, adding that 24 of the license holders were still sourcing funds, although most of the licenses had expired as of April 2018. The agency’s updated list showed that the construction of four modular refineries, with a total capacity of 23,000bpsd, had been completed.
Parts of the refinery projects whose licenses were revoked by the agency include BUA Refinery & Petrochemicals (Akwa Ibom); Dee Jones (Cross River); Energia Limited (Delta State); Southfield Petrochemical & Refinery Ltd (Edo); Starex Petroleum Refinery (Onne Oil & Gas Free Trade Zone); RG Shinjin Petrochemicals (Delta); Don Mac (Edo), and Platinum Hydrocarbon Resources (Delta).
Others include All Grace Energy (Rivers); Green Energy International (Rivers); Fresh Energy Limited (Bayelsa); Chyzob Oil & Gas (Abia); Aiteo Energy Resources Limited (Delta); Associated Worldwide Company (Akwa Ibom); and Amakpe International Refinery (Akwa Ibom).
An updated list by the agency revealed that the construction of four modular refineries, with a total capacity of 23,000bpsd, had been completed.
The refineries are Waltersmith Refining & Petrochemical Company Limited in Imo State, OPAC Refineries in Delta, Niger Delta Petroleum Resources (Train 3) in Rivers, and Edo Refinery and Petrochemical Company Limited in Edo.
It was further stated by the agency that the largest refinery project, which is being built by Dangote Oil Refinery Company in Lagos, is more than 80.3 per cent completed. [PUNCH]