Connect with us

Business

NNPC to establish 200,000bpd Condensate Refineries

Published

on

NNPC to establish 200,000bpd Condensate Refineries

The Nigerian National Petroleum Corporation (NNPC) has said it would establish two condensate refineries at Western Forcados Area and Assah North Ohaji South (ANOH) Areas of Delta and Imo State respectively.

The refineries are expected to have a total refining capacity of 200,000 barrels per day (bpd).

Natural-gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from natural gas fields.

In a statement by NNPC on Monday, the Group Managing Director of the corporation, Maikanti Baru, made the disclosure at the bid opening for the provision of consultancy services to carry out a feasibility study for the refineries.

He said the establishment of the green refineries was part of the strategies to eliminate importation of petroleum products and guarantee energy security for the country

The statement quoted Baru as saying that the condensate refineries, when fully operational, would increase gas supply to power plants in parts of the country.

Read Also: Nigeria may start earning less as U.S slashes oil importation by 62%

The NNPC GMD in the statement noted that the condensate refineries which would operate along the NLNG model would increase the nation’s revenue base, provide jobs for the people and save for the country a lot of foreign exchange.

He added that the strategic initiative would increase the energy security for the nation and grow the NNPC refining capacity from 445,000 bpd to 645,000 bpd.

“The condensate refineries are going to be fully on commercial basis and we intend to get partners that would invest. We are willing to get partners and operate in a similar manner with NLNG model where we could just get a majority share but not a controlling share,” Baru stated.

Two weeks ago, the corporation had announced plans to relocate two brownfied refineries from Turkey to Nigeria.

One of the refineries, expected to have a capacity of 100,000 bpd, will be sited near the Port Harcourt Refinery in Rivers State, while the other will be sited near the Warri Refinery, according to Baru.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations