New refinery and tank farm for Nigeria

Petrolex Oil & Gas Limited is aiming to build an oil refinery with a capacity of 250,000 barrels a day, Bloomberg has reported.

The company’s Chief Executive Officer, Segun Adebutu said of the $3.6bn plant, that it is working on the front-end engineering design and construction and is due for completion in 2021.

Segun also said Petrolex has built a storage tank farm and other mid-stream infrastructure for $330m which is due to be opened this month. The new farm is connected to a pipeline at Mosimi, which will transport products around the country.

Segun said: “By the next five years, we would have achieved a significant amount of our ambition, then begin strategy talks with the stock exchange.”

For more information visit www.petrolex.com

11th Dec 2017