See more as another Nigerian company set to construct refinery

• Aiteo Eastern E&P and PETROMOC person partnered to physique a refinery successful Mozambique, susceptible of producing 200,000 barrels of substance per day
• The refinery task is acceptable to summation Mozambique's retention capacity, positioning the state arsenic a cardinal subordinate successful the determination substance market
• The Dangote petroleum refinery remains the largest successful Africa, with the quality to nutrient 650,000 barrels per day

Dave Ibemere, a writer at Legit.ng, has been reporting connected business for implicit 10 years. He has heavy cognition of the Nigerian economy, banal market, and wide marketplace trends.

Aiteo Eastern E&P Company Limited, a Nigerian energy giant, has partnered with Mozambique’s nationalist petroleum company, PETROMOC, to physique a large refinery successful the confederate African nation.

Nigerian institution to conception refinery Photo credit: Bloomberg/contributor
Source: Getty Images

The agreement, signed recently, volition spot the operation of a refinery susceptible of producing 200,000 barrels of substance per day.

According to Mozambique’s President, Daniel Chapo, the refinery is expected to beryllium completed wrong 24 months, providing important maturation for the country’s vigor infrastructure.

The caller installation volition summation Mozambique's retention capableness for liquid fuels by 160,000 metric tonnes and 24,000 metric tonnes for Liquefied Petroleum Gas (LPG).

President Chapo said during his remarks astatine the caller Mozambique Mining and Energy Conference said:

“This is simply a transformative task that volition presumption Mozambique arsenic a cardinal subordinate successful the determination liquid substance market, with a affirmative interaction connected occupation creation, particularly for our youth.”

The refinery is expected to nutrient cardinal products including gasoline, diesel, naphtha, and Jet A1, with aspirations to pat into determination markets.

Another refinery task successful Africa Photo credit: Bloomberg/contributor
Source: Getty Images

Another refinery task successful Africa

The refinery is poised to reshape lipid commercialized flows crossed Africa, with Mozambique presently relying heavy connected imported refined petroleum products.

According to Quantum Commodity Intelligence, erstwhile operational, the refinery volition trim the country's reliance connected imports and boost section refining capacity, overmuch similar Nigeria’s ain refinery projects person shifted its presumption from a nett importer to a determination exporter of refined lipid products.

The project’s timeline, however, is considered ambitious, arsenic lipid refineries typically instrumentality betwixt 3 and 8 years to complete. Despite this, some Aiteo and PETROMOC are committed to gathering the 24-month deadline, Punch reports.

In summation to the refinery, President Chapo unveiled a large infrastructure initiative: a cross-border pipeline linking the larboard metropolis of Beira to Zambia.

The pipeline, acceptable to beryllium completed successful 4 years, volition transport 3.5 cardinal metric tonnes of petroleum products annually, helping to alleviate roadworthy postulation and amended logistics efficiency, peculiarly on National Road Number 6.

Dangote Refinery releases 4 steps to go a distributor

Earlier, Legit.ng reported that Dangote Refinery has announced opportunities for individuals funny successful becoming distributors of its petroleum products.

The 650,000-barrel-per-day refinery is moving towards reaching afloat accumulation capableness and precocious slashed its prices.

The Dangote Refinery already has six authoritative organisation partners and is seeking much to assistance guarantee affordable prices nationwide.

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Source: Legit.ng