Page 18 - DMEA Week 39 2021

DMEA NEWS IN BRIEF DMEA

sound footing notwithstanding the harsh in its refinery in Kwale, Delta state after gotten to a level where OPAC Refineries has
economic realities in the country at the four years of continuous development of its started production and have successfully
moment. refining capacity. taken a major step in putting four key
According to the commissioner, who In a statement released on Monday, the products which are Diesel - AGO, Kerosene
was flanked by some top officials of the leading indigenous refining company noted - DPK, Fuel Oil - FO and Naphtha into the
Ministry of Environment and Sanitation, that it had started the test run of its refinery market.
the establishment of a bio-refinery in a state and has completed the first production “We are currently on the table
like Osun will aid the growth of small and process which was able to produce Diesel conceptualizing the process of adding a
medium scale enterprises. - AGO, Kerosene - DPK, Fuel Oil-FO, and reformer which will transform our Naphtha
He said: “A moratorium period of two Naphtha - source for Premium Motor Spirit into PMS so that we can produce petrol for
years have been given to a firm known as (PMS). the country to alleviate the cost of PMS on
VirtueplusTwo Integrated Nigeria Limited to This development marks a formal the masses in Nigeria and also to reduce
build a bio-refinery in our state. completion of the first phase of the production importation of PMS into our country.
“This is in pursuance of Governor Oyetola’s process and part of a larger process of test “This will be the immediate second phase
commitment for the development of both running the crude production facility ahead of our project and in this, we are currently in
human and material resources for a bigger of full commissioning for commercial discussions with various agencies to ensure
and greater Osun State. production. that we succeed,” said Mr. Oyarekhua.
“For instance, by the time a bio-refinery Speaking on the development, the OPAC refineries are designed to produce
of this magnitude becomes fully functional Chairman of OPAC Refineries, Mr. Momoh multiple primary products such as Diesel or
in Ayekale area of the state, it would create Jimah Oyarekhua said “We have officially Automotive Gas Oil (AGO), Kerosene (or
5,000 direct and 10,000 indirect employment commenced the test run of our refinery DPK), Light Fuel Oil (LFO), and Naphtha -
opportunities for the people. with the first refined products coming out source for Premium Motor Spirit (PMS).
“The attendant benefits of the bio refinery successfully. This is the pre-commissioning “Being the first-of-its-kind modular
are therefore immeasurable for the citizens stage and it is going to continue for some time refinery located at Umuseti, Kwale in Delta
and non-citizens of our dear old state.” for a reliability test of the refinery. State, Nigeria, OPAC Refineries is equipped
In his remarks, the Chairman/Managing “The refinery will continue to produce with a processing capacity of 10,000 barrels
Director of VirtueplusTwo Integrated Nigeria and with this, the refinery is now ready of crude oil per day, with plans of expansions
Limited, Dr Segun Iroko, appreciated the for commissioning and we are looking at and spread to different regions.
government and the people of the state. official commercial commissioning for full OPAC refineries are reckoned as one
Iroko, while specifically appreciating the commercial production between now and the of the most promising local oil & gas
governor, also lauded the confidence reposed end of November 2021 production infrastructures and amongst the
in his firm to put in place the first ever bio “This planned official commercial first indigenous modular refineries to start
refinery in the state, which he said is still commissioning will depend on how far we go operations in Nigeria.
basking in the euphoria of its three decades of with the negotiation currently ongoing with NAIRA METRICS
existence. the NNPC and the cluster members for the
According to him, in few days’ time, work reliable supply of crude for our refinery. Saudi decision on Pakistan
will commence in earnest at the site of the bio “These negotiations are currently ongoing
refinery in Ayekale area. with the NNPC, and the cluster members, for refinery awaited
THIS DAY the supply of crude and we are hoping that
these conversations are quickly concluded Pakistan’s Minister for Finance and Revenue
OPAC refineries marks to give us the proper framework to advance Shaukat Fayaz Ahmed Tarin on Wednesday
said the Federal Board of Revenue (FBR) had
quickly
production of first refined (DPR) team was on hand to witness the first collected net revenue of Rs3,996 billion during
“The Department of Petroleum Resources
the year 2020.
products production process” he stated. Assembly, he said the number of filers was
During Question Hour in the National
Mr. Momoh Jimah Oyarekhua hinted
Nigeria’s leading indigenous refinery, OPAC further that having commenced the significantly increasing by each year in the
refineries has announced the completion of installation of the refinery in 2017, the country.
production of the first set of refined products company is grateful to God that it has finally The minister said total filers increased from

P18 www. NEWSBASE .com Week 39 30•September•2021