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Although Nigeria is the 7th largest exporter of Crude Petroleum in the world, Dangote Petroleum Refinery in Ibeju-Lekki, Lagos which was inaugurated in May this year and described as the game changer for Nigeria’s economy is currently importing crude oil from outside the country because NNPC cannot sell crude oil to the Dangote refinery.
As countries around the world, particularly in Africa, jostle to attract Foreign Direct Investment (FDI) from the global marketplace, providing a conducive investments climate
The forum called for the review of the Petroleum Refining Regulations of 1974 and other relevant laws to accommodate the establishment of artisanal refineries.
Stakeholders in the petroleum industry have proposed that the oil refining laws should accommodate the establishment of artisanal refineries to address soot pollution.
FG considers licensing, oil allocation to check scarcity Vice President Yemi Osinbajo has said the integration of artisanal and modular refinery operators into mainstream oil and gas sector promotes the inclusion of more local content in the industry and advances deployment of homegrown technology in the refining of petroleum products. He made the submission in an address delivered virtually at a “National Summit on the Integration of Artisanal and Modular Refinery Operations in Nigeria” convened by the Senior Special Assistant to the President on Niger Delta Affairs, Senator Ita Enang. A...