ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Monday, January 18, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Edo, Chinsese firm seal 5,500bpd modular refinery deal

L-R: (sitting) Representative of China SINOPEC Consortium, Mr Yang Hongtao; Edo State Governor, Mr Godwin Obaseki; Managing Director, ICMG Securities Limited, Micheal Osime, during the signing of a Memorandum of Understanding (MoU) for a 5,500bpd modular refinery between Edo State Government and SINOPEC of China, at SINOPEC headquarters in Beijing, China on Wednesday, January 10, 2018

Edo, Chinsese firm seal 5,500bpd modular refinery deal

byPress Release
January 10, 2018
2 min read
ADVERTISEMENT

The Governor of Edo State, Godwin Obaseki, on Wednesday in China signed a Memorandum of Understanding (MoU) with a Chinese consortium for a 5,500 barrel per day modular refinery in Edo State.

The event is coming hours after a similar MoU was signed with China Harbour Engineering Company Ltd. in Beijing, China, for the development of the Gelegele Seaport in Edo State.

The Chinese consortium that will handle the modular refinery is made up of Peiyang Chemical Equipment Company of China (PCC), a world leading modular refinery company; Sinopec International Petroleum Service Corporation (SIPS) which is a subsidiary of Sinopec, the top chemical giant in the world and African Infrastructure Partners, AIP, a Nigerian infrastructure company.

The first phase of the project will be ready within twelve (12) months after all the necessary approvals are granted by the regulatory authorities.

The MoU signing ceremony for the refinery took place at SINOPEC headquarters in Beijing, China, and was witnessed by officials of the Nigerian Embassy in the Asian country as well as staff of SIPS Nigeria, a major local fabrication company, with a branch in Benin City, Edo State.

Speaking at the event, Mr. Obaseki expressed his delight at the local content component of the deal, which will ensure that Edo citizens are trained in welding, refinery operation and fabrication works to enable them participate in the construction of the refinery as well as its operation, post-commissioning.

The governor assured that the refinery construction will provide jobs for several unemployed Edo youth including the Libya returnees who are being evacuated from the crisis-ridden North African country.

Mr. Obaseki added that the modular refinery will solve the problem of inadequate petroleum products in the country and will turn Edo State to the preferred source of petroleum products considering the gateway status of Edo State to other parts of the country.

“With the federal government of Nigeria’s commitment to support communities in the Niger Delta states to set up modular refineries, the SIPS fabrication yard in Benin City is expected to be very busy handling the fabrication jobs of modular refineries in the Niger Delta Region,” Mr. Obaseki said.

RelatedNews

VIDEO: How communal crisis set back my farming business – Susan Godwin

NPFL Round-Up: Enyimba subdue Pillars as Plateau United win big

After collecting N200,000 from victim, suspects deny kidnap plan

EPL (LIVE UPDATES): Liverpool, Manchester United battle for top spot

He pledged that his administration will provide community support to the project, assist in securing all regulatory approvals from the appropriate regulatory authorities such as the federal ministry of petroleum resources.

The consortium is committed to delivering phase 1 of the project within 12 months of receiving the required regulatory approvals.

In addition, PCC also agreed to finance the demonstration modular refinery up to 70 per cent, thereby assisting in scaling the financing hurdle that has militated against the development of modular refineries in Nigeria.

Dangote adbanner 728x90_2 (1)

The project will be executed in two phases; phase 1 consisting of 500 bpd demonstration refinery and phase 2 consisting of a 5,000 bpd capacity refinery. The PCC will also serve as the Operations and Management company that will manage the refinery before transferring it to the local investors.

The demonstration refinery will serve as, ”proof of concept and to train the indigenes in the management of the refinery.”

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (0)
premiumtimes



PT Mag Campaign AD

Previous Post

Russia 2018: Nigeria, England confirm June 2 Wembley friendly

Next Post

UI admits 3,783 out of 56,172 applicants for 2017/2018

Press Release

Press Release

More News

Governor Kayode Fayemi

Insecurity: Ekiti allocates N1.4 billion to Amotekun – Official

January 17, 2021
Households affected in Lagos market fire. [PHOTO CREDIT: Ifeoluwa Adediran]

62 traders, 28 households affected in Lagos market fire – Official

January 17, 2021
Lagos-Ibadan Expressway under construction as FRSC announces temporary closure.

Lagos-Ibadan Expressway ready in December – Director

January 17, 2021
Lagos state commissioner of health, Prof Akin Abayomi [PHOTO CREDIT: @ProfAkinAbayomi]

COVID-19: Oxygen usage in Lagos isolation centres rising – Commissioner

January 16, 2021
Lagos State Governor, Mr. Babajide Sanwo-Olu

COVID-19: Lagos govt extends resumption date for public servants

January 16, 2021
UNILORIN gate used to illustrate the story.

UNILORIN announces resumption dates

January 16, 2021
Next Post
University of Ibadan (UI)

UI admits 3,783 out of 56,172 applicants for 2017/2018

Lagos showcases ‘modern’ initiative to take waste off streets

Lagos showcases 'modern' initiative to take waste off streets

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps Address Nationwide
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.