According to Reports reaching Oyogist.com, President of the Federal Republic of Nigeria, Muhammadu Buhari would Commission the first Phase of a brand new Petroleum Refinery by WalterSmith Limited, located at Ibigwe in Imo State, this week.
Oyogist further learnt that The Federal Government holds a stake in the Refinery.
“The first phase of the refinery would see to the delivery of 5,000 “BPD Modular capacity that is strategically located near the existing flow station and will process the circa 6,000 boepd currently produced by the upstream business to the readily available market in the south-eastern part of Nigeria”. Walter Smith said in a blog post.
“It is expected to contribute about 271 million litres of refined products including Diesel, Naptha, HFO and Kerosene annually to the domestic market and create both direct and indirect jobs particularly within the host communities.
” The project is currently under construction and is expected to be commissioned by Quater. 2, 2020.
“The phase 2 is the delivery of 25,000 BPD crude and condensate refinery; an upgrade on the 5,000bpd modular refinery. The project is still at an early stage of development but is designed to produce the following products: gasoline, diesel, LPG, kerosene and aviation fuel”. It Concluded.