Agreements have been concluded between China-based Sino-Arab Energy and Nigeria’s Osabo Refining and Petrochemical Industry Limited, to build a refinery in Akpabuyo, in Cross River State. The refinery will cost $7.5 billion and will have production capacity for 107,000 barrel of crude oil per day. The refinery is expected to grow government’s objective to refine more crude oil locally, and is expected to generate 10,000 jobs when running.
Speaking on the project, a member of the Cross River House of Assembly, representing Akpabuyo, and a member of the project team, Hon. Etim Okon said, “the process for the procurement of requisite licenses to establish and operate the refinery had fully commenced” and the refinery will have “other areas of activities include but not limited to gathering and the treatment of gas, establishment of industries and cogeneration. Product base will include Premium Motor Spirit, PMS, Kerosine, jet fuel, diesel, Gasoline, automotive gas oil, AGOP, low pour fuel oil, LPFOP, High pour fuel oil, HPFO, boat fuel, motor oil, lubricants, liquefied petroleum gas, and LPG”