Nigeria’s efforts to revamp its aging refineries may be bogged down due to a lack of resources, but Africa’s top oil producer is moving ahead with mini-plants in an effort to help end its dependency on fuel imports.
The country’s first modular refinery, built by independent producer Waltersmith Petroman Oil Ltd., began operations in the southeastern Imo state earlier this month. It’s part of a wider initiative to have the tiny plants making at least 10% of the nation’s fuel within five years.
Waltersmith owns a 70% stake in the new facility -- which will initially produce mainly diesel, kerosene and naphtha -- with the government holding the rest. The company is seeking to expand output at the plant tenfold in the next three years, eventually producing more gasoline…
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