Thursday, June 30, 2022
  • Home
  • Privacy Policy
Popular News9ja
  • Home
  • News
  • Politics
  • Metro
  • Business
  • Entertainment
  • Sports
  • Interview
No Result
View All Result
Popular News9ja
  • Home
  • News
  • Politics
  • Metro
  • Business
  • Entertainment
  • Sports
  • Interview
No Result
View All Result
Popular News9ja
No Result
View All Result

Edo Modular Refinery to meet 100% of black oil demand, boost industrialization

by Popular News
September 7, 2020
0
1
SHARES
5
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp
ADVERTISEMENT

Edo Modular Refinery operated by Edo Refinery and Petrochemical Company (ERPC) Limited with support from the Edo State Government will (at full capacity) meet 100 per cent of Nigeria’s Low Pour Fuel Oil (LPFO) or black oil need.

The first phase of the facility, capped at 6000bpd, is on the verge of completion in Ologbo, Ikpoba Okha Local Government Area (LGA) of the state.

ReadAlso

Edo Assembly wants police boss to relocate to community where Catholic priest was abducted

Ex-militant leader blames NDDC management for escalating crisis in Niger Delta

Chairman of ERPC, Michael Osime, in statement, said when the company meets the local demand for LPFO, the Central Bank of Nigeria (CBN) will have to remove the product from its foreign exchange list.

ADVERTISEMENT

LPFO is a fundamental input in steam generation in many labour intensive industries like textiles (colouring), construction (cement), food (sugar) and beverages (sterilising), and is set to drive industrial growth.

According to Osime, “The modular refinery has achieved 95 per cent mechanical completion. The pre-commissioning activities are expected to commence soon.”

He added, “Our expansion programme to 30,000bpd will save in excess of $350m in foreign exchange per annum. The facility will also meet 100 per cent of the demand for LPFO per annum. Therefore, with our production capacity, the CBN can remove LPFO from the foreign exchange list.

He commended the state and federal governments for their support which led to the speedy realisation of the project, noting, “On behalf of management of EPC contractor and staff of ERPC, I would like to express our gratitude to the Federal Government of Nigeria for creating good business environment under the ease of doing business programme and fiscal incentives such as duty waiver.

“We appreciate the Edo State Government for giving support of N700 million and good business environment and our host community, the Ologbo Community.”

Recall that as part of the state’s industrialisation drive, Governor Godwin Obaseki had in 2018 signed a Memorandum of Understanding (MoU) with a Chinese consortium and committed N700m project support fund to start off the project, paving the way for the establishment of the refinery.

The operators of the refinery secured their licences in 2019 and commenced construction in August, with a target to complete the first phase in a year.

Related

Previous Post

Nigeria Table Tennis Federation gets Technical Director

Next Post

Jattu Progressive Union endorses governor, deputy

Related Posts

Edo Assembly wants police boss to relocate to community where Catholic priest was abducted
News

Edo Assembly wants police boss to relocate to community where Catholic priest was abducted

June 27, 2022
57
Ex-militant leader blames NDDC management for escalating crisis in Niger Delta
News

Ex-militant leader blames NDDC management for escalating crisis in Niger Delta

June 27, 2022
125
We are ready to enthrone Peter Obi as President in 2023, says LP chieftain
News

We are ready to enthrone Peter Obi as President in 2023, says LP chieftain

June 27, 2022
47
Workshop acknowledge labour migration reporters knowledge and skills
News

Workshop acknowledge labour migration reporters knowledge and skills

June 26, 2022
33
Benin monarch gets quadruplets
News

Benin chiefs disown ‘Palace enemies’

June 24, 2022
63
Edo PDP crisis: The way forward
News

Edo PDP crisis: The need to close rank ahead of 2023 elections

June 24, 2022
50
Next Post

Jattu Progressive Union endorses governor, deputy

Discussion about this post

ADVERTISEMENT

Highlights

Workshop acknowledge labour migration reporters knowledge and skills

Edo Assembly wants police boss to relocate to community where Catholic priest was abducted

Ex-militant leader blames NDDC management for escalating crisis in Niger Delta

Edo PDP crisis: The need to close rank ahead of 2023 elections

ADVERTISEMENT

We are ready to enthrone Peter Obi as President in 2023, says LP chieftain

Benin chiefs disown ‘Palace enemies’

ADVERTISEMENT

Trending

Petitioner wants reps aspirant, Osawaru, investigated over dual membership of political parties
News

Reps hopeful seeks legislative intervention, stiff sanction to curb vote buying

June 22, 2022
34

Following reports of massive vote buying in the last weekend Governorship Election in Ekiti State, the candidate for the All...

Group appreciates Obaseki’s leadership in the fight against terrorism, kidnapping

Group appreciates Obaseki’s leadership in the fight against terrorism, kidnapping

June 23, 2022
18
Edo PDP crisis: The way forward

Edo PDP crisis: The way forward

June 18, 2022
102
We don’t need ethnic governor in Edo State, says rights activist

Rights activist drags Burna Boy, Obi Cubana over shooting incident in night club

June 21, 2022
49
Tompolo and Festus Alenkhe, not too young to rule Nigeria

Tompolo and Festus Alenkhe, not too young to rule Nigeria

June 16, 2022
154
How Mechanic Dairy was received at Benin celebrity hangout

How Mechanic Dairy was received at Benin celebrity hangout

June 21, 2022
66
ADVERTISEMENT
ADVERTISEMENT
Facebook Twitter Instagram

About Us

Logo

News gathering and dissemination is a business that is worth the while. We have put in some 40 years of experience in the business to equip us for the task at hand. We promise to let these years of experience to bear in the discharge of our duties and as well meet your expectations in this one stop news portal. Our main focus, of course, will be Nigeria.

CONNECT WITH US

SECTIONS

  • Agriculture and Natural Resources
  • Breaking News
  • Business
  • Celebration
  • Crime
  • Culture and Tradition
  • Education
  • Entertainment
  • Environment
  • Exclusive
  • Featured
  • Gender Issues
  • Governance
  • Grassroots
  • Health
  • Hospitality
  • Infrastructure
  • Interview
  • Judiciary
  • Lifestyle
  • Metro
  • Migration
  • News
  • Newspapers
  • Oil and Gas
  • Parliament
  • People's Parliament
  • Photospeak
  • Point of View
  • Politics
  • Press Statement
  • Pussyfoot
  • Religion
  • Right of Reply
  • Security
  • Sponsored
  • Sports
  • Technology
  • Tete-a-Tete
  • Tourism
  • Travels
  • Tribute

NEWS SOURCES

  • Bightnews
  • TrackNews
  • National Daily
  • Point News Nigeria
  • Socialist Workers
  • Nigerian Tribune
  • The Nation
  • Thisday
  • The Sun
  • Daily Independent
  • Nigerian's news
  • PM News
  • Vanguard
  • Premium Times
  • Punch
  • Sahara Reporters
  • The Guardian
  • Bayelsa Online News
  • Leadership Newspaper
  • Daily Times Of Nigeria
  • © 2021 Popular News9ja - Web Designed by AfeesHost.

    • Home
    • News
    • Politics
    • Metro
    • Business
    • Entertainment
    • Sports
    • Interview

    © 2021 Popular News9ja - Web Designed by AfeesHost.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.