Page 15 - AfrOil Week 36

AfrOil PROJECTS & COMPANIES AfrOil

BUA Group’s chairman Abdul Samad Rabiu (center) celebrated the signing of the contract with Franck
Riester of the French Foreign Trade Ministry (left) and Axens CEO Jean Sentenac (right) / Photo: Vanguard
“Once completed, this RFCC-based complex Corp. (NNPC) opted to close its three refineries
will produce high-quality gasoline, diesel [and] in Warri, Port Harcourt and Kaduna earlier this
jet fuel meeting [Euro-5] specifications for the year because operating them is unprofitable. The
Nigerian market and the larger region,” BUA company spent some NGN10.2bn ($27mn) on
CEO Abdul Samad Rabiu said in a statement. rehabilitating the plants in June, according to a
“In addition, [the complex] will produce pro- report published last week. It wants to re-open
pylene, an essential component for the petro- them after they have undergone extensive
chemical industry used in polypropylene-based upgrades.
plastics and packaging.” Nigeria has a number of other new refining
He said the complex, due on stream in 2024, projects in the works. The biggest of these is the
would help Nigeria overcome its dependence on 650,000 bpd grassroots Dangote refinery in the
imported fuels and petrochemicals. country’s south-west, scheduled for commis-
Nigeria is Africa’s biggest oil producer but sioning next year. A number of companies are
cannot meet its own fuel demand because of also developing small-sized modular refineries.
limited refining capacity. Its large state-owned Nigeria’s Department of Petroleum
refineries have fallen into disrepair and operate Resources estimated this week that the country
at only a fraction of their nameplate capability. would become a net exporter of fuels by 2020,
State-owned Nigerian National Petroleum thanks to new capacity coming on stream. ™

DRC gives Perenco a green light

for associated gas-to-power project

D.R. OF CONGO THE government of the Democratic Republic of carbon emissions. Additionally, more gas may
Congo (DRC) has authorised the Anglo-French become available if the Anglo-French firm is
company Perenco to move forward with a gas- able to bring production back up to 70,000-
to-power project. 90,000 bpd, the level that was prevailing before
According to press reports, the DRC’s coun- the advent of the coronavirus (COVID-19)
cil of ministers recently approved Perenco’s plan pandemic.
for using associated gas as fuel for electricity The DRC’s council of ministers has shown
production. The plan calls for the company to strong interest in this project, which is in line
deliver associated gas extracted from offshore with the government’s efforts to transform
oilfields to thermal power plants (TPPs). wasted resources into a source of revenue. The
The initial volumes of gas may be limited, as council also hopes Perenco’s plan will support its
Perenco is only producing about 25,000 barrels campaign to ensure universal access to electric-
per day (bpd) in the DRC at present. Never- ity and to open the domestic power-generating
theless, it will help reduce the country’s flaring sector up to privately owned companies, in line
of associated gas, a practice that contributes to with the reforms enacted in 2014.

Week 36 09•September•2020 www. NEWSBASE .com P15