Nigeria: Govt Wants OIC to Build Refinery
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Wednesday, 17 October 2012 |
The Nigerian government has said that it wants Indian Oil Corporation to build a new refinery in Balyelsa, the home state of President Goodluck Jonathan (pictured). The new complex would be owned and operated by IOC, one of the largest oil marketing companies in India, said a government official.
“We want IOC to set up the refinery in the president’s own state,” said Emmanuel Egbogah, Special Advisor to President Jonathon on petroleum. “The refinery is expected to have a size of 300,000 barrels per day to 400,000 bpd.”
Should IOC accept the government’s offer, it would be the second project currently being undertaken by the company in Nigeria. IOC is already working on a 12 million tonnes per year facility with the Nigerian National Petroleum Corp at Port Harcourt.
Indian oil companies have long been trying to gain a foothold in the African oil industry, where they have been losing ground to Chinese competitors in recent years. Nigeria holds proven oil resources of around 36.2 billion barrels.
PetrolWorld 17102012
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