Page 13 - DMEA Week 35 2022

DMEA REFINING & FUELS DMEA

He also noted that the refinery was due to begin that happens – and we are very optimistic it will
producing gasoline, known locally as premium happen – you would see that this country will
motor spirit (PMS), in 2023 at the rate of 50mn now be a net exporter,” he commented. “It will
litres per year, meaning that NNPC Ltd’s share be a hub for the export of petroleum products,
would be equivalent to 10mn litres per year. not just to the West African sub-region. This will
The anticipated increase in supplies from happen. The flow of supply will change by the
the new refinery, along with the reactivation of middle of next year.”
NNPC Ltd’s own refineries following the com- Kyari also acknowledged that self-sufficiency
pletion of repair and upgrade programmes, will in fuel supplies would not be possible without
help alleviate Nigeria’s dependence on imported the Dangote plant, as NNPC Ltd’s four refineries
fuel, Kyari said. “The combination of that and could not meet domestic demand for petroleum
our ability to bring back our refinery will elim- products.
inate any importation of petroleum products “Even if all our four refineries in three loca-
into this country next year. You would not see tions are operating at 90% of installed capacity,
any importation into this country next year,” he they will only be able to raise 18mn litres of [gas-
declared. oline per year],” he said. Therefore, he contin-
Additionally, Kyari predicted that Nigeria’s ued, “even if all of them are working today, you
long-standing fuel supply problems would evap- would still have a net deficit of PMS [and need]
orate soon, thanks to the small- and large-scale to import into this country.”
refining projects now being undertaken. The When finished, the Dangote Refinery will
country could even start supplying petroleum have a throughput capacity of 650,000 bpd. It is
products to other countries, he said. expected to begin operating at an initial capac-
“When we are done with our refineries and ity of 560,000 bpd next year. The facility is being
the Dangote refinery, there remain other small built by the Dangote Group, a privately-owned
initiatives that we are doing, small modular Nigerian industrial conglomerate, in the Lekki
condensate refineries that we are building. If Free Zone near Lagos. ™

PETROCHEMICALS
Iran’s petrochemical exports up by 38%

y/y to $9.1bn in first five Persian months

MIDDLE EAST IRAN’S petrochemical exports rose by 38% $961m. Urea exports jumped 79% y/y to $958m.
y/y to $9.14bn in the first five Persian calendar Morteza Shahmirzaei, managing director of
months (March 21 to August 21), state media Iran’s National Petrochemical Co. (NPC), was
reported on August 28. reported by the Tehran Times on August 27 as
Petrochemicals accounted for 44% of the saying Iranian annual petrochemical exports
value of Iran’s total exports in the period, they were expected to reach $18bn in the current Ira-
added, citing figures from the Islamic Republic nian calendar year (ends March 20, 2023).
of Iran Customs Administration (IRICA). Iran’s annual petrochemical production
“The country has launched several major capacity stood at 90mn tonnes, he added.
petrochemical plants in recent years while plans The value of Iran’s petrochemical exports in
are in place to boost the output and exports from the last Persian year was around $15bn, Shah-
the sector to further reduce Iran’s reliance on mirzaei had previously said.
crude oil exports,” stated a report from Press TV. Petrochemicals provide Iran with its sec-
The quoted data showed methanol exports ond-largest source of export revenue after crude
in the reporting period expanded by 43% y/y to oil, constituting almost one-third of the coun-
hit $1.24bn. LPG shipments were roughly flat at try’s non-oil exports. ™

NPC sees the value of Iran’s petrochemical exports reaching $18bn in the current calendar year (Image: NPC)

Week 35 01•September•2022 www. NEWSBASE .com P13