ENNIJI Nigeria LTD https://senderapartners.com Tue, 20 Aug 2024 18:59:48 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 193530553 Ghana is Location for Africa’s Next Major Petroleum Hub https://senderapartners.com/the-upshot-july-1-2020/?utm_source=rss&utm_medium=rss&utm_campaign=the-upshot-july-1-2020 Wed, 01 Jul 2020 17:38:39 +0000 http://senderapartners.com/?p=2386 Ghana has officially embarked on constructing a massive $12 billion petroleum hub, a project expected to significantly enhance the country’s position in the global oil and gas industry. Located in the southwestern city of Jomoro, the hub will include a 300,000-barrel-per-day refinery, petrochemical plants, and other related infrastructure, positioning Ghana as a key player in West Africa’s energy market.

President Nana Akufo-Addo, who presided over the groundbreaking ceremony, emphasized the project’s significance to Ghana’s economic future. “The project promises to be a cornerstone of our nation’s development,” Akufo-Addo stated. This development marks a bold step for Ghana, which began oil production in 2010 and currently produces around 132,000 barrels per day (bpd) of crude oil.

The petroleum hub is expected to transform Ghana into a major supplier of refined petroleum products across West Africa, a region that currently imports nearly 90% of its petroleum needs. According to the African Refiners and Distributors Association, West Africa consumes about 800,000 bpd.

]]> 2386 Nigeria Loses $1,000 per Barrel of Crude Oil It Exports https://senderapartners.com/improving-lives-with-technology-hse-lighthouse-project/?utm_source=rss&utm_medium=rss&utm_campaign=improving-lives-with-technology-hse-lighthouse-project Fri, 08 May 2020 04:15:08 +0000 http://senderapartners.com/?p=204 Nigeria is losing $1,000 on every barrel of crude oil it exports, due to a lack of the added value from refining, Nigerian media quoted energy policy expert Henry Adigun as saying at a conference.

This loss is no longer sustainable, Adigun said.

The Nigerian federal government is supporting local refineries, but the regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is not empowered in its statutes to support a monopoly of fuel supply and distribution, the local newspaper The Sun quoted Adigun as saying.

Nigeria is looking to boost both crude oil production and domestic refining.

Africa’s largest refinery, the new Dangote facility in Nigeria, has recently started up production. With a capacity of 650,000 barrels per day (bpd), the refinery is expected to meet 100% of Nigeria’s demand for all refined petroleum products and have a surplus of each of the products for export.

Meanwhile, Nigeria’s national oil company NNPC Ltd has declared a state of emergency on production in Nigeria’s oil and gas industry as Africa’s largest oil producer struggles to boost output.

NNPC believes that Nigeria needs to take urgent action to address the challenges that have plagued the oil and gas industry for years, NNPC Group Chief Executive Officer, Mele Kyari, said in July.

“We know what we have to do at the level of assets. We have engaged our partners, and we will work together to improve the situation,” NNPC’s Kyari said.

The combination of pipeline vandalism and oil theft with a lack of investment in capacity has made Nigeria the biggest laggard in crude oil production in the OPEC+ alliance. Due to the underproduction, OPEC even reduced last year the quota for Nigeria’s oil production.

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