Nigeria has for long been a major producer of crude oil ever since the primary industrial properly was drilled in Oloibiri in current day Bayelsa state. The nation presently has an estimated 35.3 billion barrels of hydrocarbon both onshore and offshore assets principally domiciled within the Niger Delta basin. Nigeria presently ranks tenth in probably the most petroleum-wealthy nation, and by the far essentially the most affluent in Africa producing over two million 2,000,000 barrels per day.
Nigeria’s hydrocarbon is categorized principally as “light and “sweet because the oil is essentially free of sulphur. Nigeria is the biggest producer of sweet oil in OPEC, the group for petroleum exporting countries. This candy oil is analogous in composition to petroleum extracted from the North Sea. This crude oil is known as “Bonny light Names of other Nigerian crudes, all of which are named in keeping with export terminal, are Qua Ibo, Escravos blend, Brass rivers, Forcados, and Pennington Anfan.
Investment alternatives within the oil and gasoline business in Nigeria could be stratified along three categories particularly the up-stream, center stream and down-stream sectors. While the center-stream and downstream sectors as to do with importation, storage and marketing of refined petroleum products,the upstream sector is devoted to the exploration ,production and refining of hydrocarbons.
For far too long the nation has been dependant on importation of refined petroleum products resulting from the very fact the 4 crude oil refinery in Nigeria cannot meet the native demand for the product which presently stands at an estimated sixty million 60,000,000 liters of refined petroleum products PMS, DPK and Ago per day.
Really there has by no means been a doubt about the large size of the Nigeria marketplace for the refined petroleum products which is one in all the most important in Africa; the issue has been that of government policy and regulation. The idea of utilizing subsidy to enhance the retail worth of refined petroleum products in Nigeria though an excellent initiative encourages the importation of the product than native refining of the product.
In view of the current ban on subsidy, the coast is now clear for savvy buyers to the opportunity and invests the local refining of hydrocarbon in Nigeria hence the need for this text to raise consciousness about the opportunity.
The Mini Refinery & Portable Crude Oil Distillation Plant is able to processing from 2,000 Barrels Per Day (BPD) of any stream of Gentle or Heavy Crude Oil within API Gravity of 29°- forty two.8°, into Naphtha, Diesel, Kerosene and Gasoline Oil.
Mini Refineries are ideally suited for distant places and are viable for Investments by Non-public and Public Sector Groups as a supply of rapid production of primary gas products and uncooked materials for Petrochemical Downstream Industries.
The investor can apply for oil block allocation or accomplice with authorities at totally different degree on a PPP foundation to ensure investment and feedstock for the manufacturing plant.
Establishing a crude oil refinery requires approval from the department of petroleum assets, the petroleum regulatory organisation in Nigeria.
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