L
LequteMan
Guest
Nigeria - The Department of Petroleum Resources has revealed it is ready to release the guidelines for the establishment of modular refineries in the country, with the aim of shortening the approval time for licensing of refineries.
It also said that the Federal Government was working towards refining 50 per cent of the country’s crude oil locally, Punch reports.
The bulk of the refined petroleum products is imported as the country’s four refineries are working below their respective installed capacities.
The Deputy Director, Engineering and Standards, DPR, Mr. Alfred Ohiani, said the new guidelines would reflect the processes for the issuance of licences, which would span a period of 12 months.
He expressed optimism that the target of increased refining capacity would be achieved with modular refineries, adding, that the licensing fee would remain at $50,000.
According to him, a modular refinery, valued at between $1m and $15m depending on the capacity, will squeeze out value from stranded hydrocarbon in remote locations and marginal fields to enhance resource utilisation and spur economic activities.
#Nigeria #ModularRefineries #DPR
It also said that the Federal Government was working towards refining 50 per cent of the country’s crude oil locally, Punch reports.
The bulk of the refined petroleum products is imported as the country’s four refineries are working below their respective installed capacities.
The Deputy Director, Engineering and Standards, DPR, Mr. Alfred Ohiani, said the new guidelines would reflect the processes for the issuance of licences, which would span a period of 12 months.
He expressed optimism that the target of increased refining capacity would be achieved with modular refineries, adding, that the licensing fee would remain at $50,000.
According to him, a modular refinery, valued at between $1m and $15m depending on the capacity, will squeeze out value from stranded hydrocarbon in remote locations and marginal fields to enhance resource utilisation and spur economic activities.
#Nigeria #ModularRefineries #DPR
