Page 8 - EurOil Week 38

EurOil NEWSBASE’S ROUNDUP GLOBAL (NRG) EurOil

NRG: Steps being taken

in several directions

Oil producers are starting to return to exploration despite
continued restrictions and concerns about new outbreaks.

GLOBAL WELCOME to the latest edition of NewsBase’s that the deregulation of domestic fuel markets
Roundup Global (NRG), in which our team of is attracting more private investors to the down-
international editors provide you with a snap- stream sector. There are already seven modular
shot of some of the key issues affecting their refineries under construction in Nigeria, and these
regional beats. Get the NRG Oil & Gas Editor’s facilities will boost the country’s oil-processing
Picks to your inbox every week for free. Just sign capacity by a total of 750,000 barrels per day (bpd),
up here. he said last week. The modular plants will also help
In this week’s NRG our editors highlight vari- turn the country into a net exporter of petroleum
ous steps which are being considered or taken in products by 2022, he added.
response to price or environmental pressures. Car- Auwalu was speaking as AIPCC Energy, a joint
bon-neutral LNG and CNG (compressed natural venture formed by Nigeria’s AFCOM and China’s
gas) may well be a sign of the future, although in Peiyang Chemical Equipment Co. (PCC), said it
Japan’s case they compete with the restart of nuclear intended to raise the capacity of its modular refin-
production. An overhaul to Russia’s oil tax regime ery in Edo State from 6,000 bpd to 60,000 bpd by
will also be one to watch. Meanwhile, exploration 2025. The additional capacity will allow the plant to
moves in Alaska and the Middle East feature, as cover a large portion of domestic demand for die-
does deal-making in the North Sea, the potential sel fuel, said Segun Okeni, AIPCC Energy’s head of
of modular refineries in Nigeria and a twist in the quality, health and safety and community relations.
situation in Venezuela. The Edo refinery is due to begin operating in
the near future – as is another modular plant that
Modular refineries in Nigeria Waltersmith, a Nigerian company, is building in
THE new issue of AfrOil takes note of Nigeria’s Imo State. This 5,000 bpd facility is slated to come
rising interest in modular oil refinery projects. on stream in mid-October, the Nigerian Content
Sarki Auwalu, the director of the country’s Development and Monitoring Board (NCDMB)
Department of Petroleum Resources (DPR), notes said last week. Waltersmith, like AIPCC Energy,

P8 www. NEWSBASE .com Week 38 24•September•2020