Page 15 - AfrOil Week 37

AfrOil PROJECTS & COMPANIES AfrOil

Total, OLA team up for fuel terminal in Egypt

EGYPT FRANCE’S Total has paired with OLA Energy resources with a new petroleum products termi-
Egypt to jointly build, own and operate a fuel nal in Alexandria, a main entry point of supply
terminal in Egypt, the companies have said. on the Mediterranean,” Total Egypt’s managing
The duo have signed a joint venture agree- director Peyami Oven said. “The APPT will
ment on the Alexandria Petroleum Products complete our supply set-up with existing termi-
Terminal (APPT), which will be sited at the nals in Mostorod and Suez.”
Mex Petroleum Zone on a 23,000-square metre The terminal will enable Total Egypt to
plot. It will have an initial storage capacity of deliver on its growth plans and improve cus-
10,000 cubic metres, serving as a supply point tomer service, Oven said. The company has
for both companies’ customers and filling sta- nearly 240 filling stations in the country.
tions in Alexandria, and the North Coast and “This project is a new milestone of the com-
Delta regions. pany’s ambition to grow and its commitment
The terminal will have access to the national to develop the petroleum supply chain and
petroleum pipeline grid and will be situated in increase its market share,” he said.
close proximity to Alexandria’s main refineries OLA’s general manager Ahmed Elgembri
and a petroleum products jetty. On completion noted hat the project was in line with the com-
of its first phase, expected in the final quarter of pany’s vision of being one of the largest down-
2022, the terminal will host four gasoline and stream marketers in Egypt and Africa. It has a
two gasoil tanks, and a truck-loading gantry. chain of over 1,200 filling stations, eight blend-
More tanks will be added under its second. ing plants and over 60 fuel terminals in 17 Afri-
“Total Egypt is proud to expand its logistics can countries. ™

Kyari: NNPC still mulling plan to

unload majority stakes in refineries

NIGERIA THE head of Nigerian National Petroleum as operator of the facilities once they resumed
Corp. (NNPC) said last week that his company operations.
was still looking into proposals for selling off The refineries have long been a drag on
majority stakes in the country’s four largest oil NNPC’s finances. They have been operating far
refineries. below their design capacity of 445,000 barrels
Speaking to Channels TV, Mele Kyari, the per day (bpd).
group managing director of state-run NNPC,
said that company officials were in discussions
on a new operating plan for the oil-processing
plants, which are located in Warri, Port Har-
court and Kaduna. Under this plan, he said,
NNPC would only retain minority stakes in the
refineries.
Kyari did not say how much the company
might offer to investors or when stakes in the
plants might be sold. Nor did he name any
potential partners. He did indicate, though, that
the Nigerian government was keen to adopt
a model that would allow for greater opera-
tional efficiency, as well as “more scrutiny of
shareholders.”
NNPC has said before that it might not retain
majority stakes in its four refineries. In April of
this year, the company reported that it had sus-
pended operations at the plants so that it could
seek funding for their refurbishment. It also said
at the same time that it would not continue to act NNPC owns Niigeria’s four largest refineries (Image: Anadarko Petroleum)

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