Page 9 - AfrOil Week 02 2023

AfrOil PERFORMANCE AfrOil

“To ensure local supply of the [fuel] production of crude oil to the new modular facilities, he
by the private refineries, the federal government declared.
deliberately took [a] 20% equity stake in the Meanwhile, Sylva said, state-owned Nigerian
Dangote Refinery,” he noted. National Petroleum Co. Ltd (NNPCL) expects
Also in 2023, Sylva added, Nigeria is on to wrap up all outstanding rehabilitation work
track to see several small modular refineries at the Port Harcourt Refining Complex (PHRC),
completed. The plants will boost the country’s a 210,000-bpd facility that includes two oil-pro-
oil-processing capacity, and the federal govern- cessing plants, by the end of the first quarter of
ment stands to benefit directly from such pro- 2024. Once PHRC’s units are available, he said,
jects, he said. Nigeria will be in a position to turn out enough
“The federal government took [a] 30% equity refined fuels to meet its own needs.
stake in each of the 5,000 bpd Waltersmith mod- “With the combined production of the
ular refinery in Ibigwe, Imo State, and the 10,000 Port-Harcourt refinery, [the] Dangote Refin-
bpd Duport modular refinery in Edo State, ery and the modular refineries, Nigeria would
among others,” he noted. Abuja will work with end importation of petroleum products into the
private investors to help ensure steady deliveries country,” the minister said. ™

POLICY
Libyan court suspends controversial

offshore exploration deal with Turkey

LIBYA A Libyan appeals court took the decision on any international agreements.
January 9 to suspend an energy exploration Libya plunged into chaos after the Arab
deal signed by the Tripoli-based Government Spring in 2011 that ousted ex-dictatorship
of National Unity (GNU) with Turkey in 2019, Muammar Gaddafi, splitting between rival
according to Alarabiya News. The court had also governments – one in the east, backed by mil-
suspended the energy deal signed with Turkey itary commander Khalifa Haftar, the leader of
in October 2022. The court did not explain the a faction known as the Libyan National Army
motives for the new ruling. (LNA), and the UN-supported administration
The exploration deal included scope for oil in Tripoli.
and gas exploitation in Mediterranean waters, The North African country is currently in
but angered other Eastern Mediterranean pow- a state of uncertainty over the fate of its politi-
ers, including Egypt and Greece, which claim cal process in the light of its failure to conduct
they have a share in the waters. presidential and parliamentary elections on the
The deal also inflamed Libya’s own internal scheduled date of December 24, 2021. Tensions
crisis as it fuelled struggles between the gov- have persisted due to factors including divisive
ernment in western Libya and an eastern-based candidates and a disputed legal framework.
authority that rejects GNU’s legitimacy and These persistent struggles, in turn, have affected
claims Tripoli no longer has a mandate to strike oil exports and internal stability. ™

Turkey and Libya signed a maritime border agreement in 2019 (Image: MFA.gov.tr)

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