Page 6 - LatAmOil Week 38

LatAmOil NEWSBASE’S ROUNDUP GLOBAL (NRG) LatAmOil

NRG: Steps being taken

in several directions

Prices and environmental pressures are driving some of the activity
in the industry, but exploration work continues in multiple regions

COMMENTARY WELCOME to the latest edition of NewsBase’s rising interest in modular oil refinery projects.
Roundup Global (NRG), in which our team of Sarki Auwalu, the director of the country’s
international editors provide you with a snap- Department of Petroleum Resources (DPR),
shot of some of the key issues affecting their notes that the deregulation of domestic fuel
regional beats. Get the NRG Oil & Gas Editor’s markets is attracting more private investors to
Picks to your inbox every week for free. Just sign the downstream sector. There are already seven
up here. modular refineries under construction in Nige-
In this week’s NRG our editors highlight vari- ria, and these facilities will boost the country’s
ous steps which are being considered or taken in oil-processing capacity by a total of 750,000 bar-
response to price or environmental pressures. Car- rels per day (bpd), he said last week. The mod-
bon-neutral LNG and CNG (compressed natural ular plants will also help turn the country into
gas) may well be a sign of the future, although in a net exporter of petroleum products by 2022,
Japan’s case they compete with the restart of nuclear he added.
production. An overhaul to Russia’s oil tax regime Auwalu was speaking as AIPCC Energy, a joint
will also be one to watch. Meanwhile, exploration venture formed by Nigeria’s AFCOM and China’s
moves in Alaska and the Middle East feature, as Peiyang Chemical Equipment Co. (PCC), said it
does deal-making in the North Sea, the potential intended to raise the capacity of its modular refin-
of modular refineries in Nigeria and a twist in the ery in Edo State from 6,000 bpd to 60,000 bpd by
situation in Venezuela. 2025. The additional capacity will allow the plant to
cover a large portion of domestic demand for die-
Modular refineries in Nigeria sel fuel, said Segun Okeni, AIPCC Energy’s head of
The new issue of AfrOil takes note of Nigeria’s quality, health and safety and community relations.

P6 www. NEWSBASE .com Week 38 24•September•2020