Business

Buhari To Commission Waltersmith Modular Refinery In Imo

The Nigerian Presidency says President Muhammadu Buhari will commission the first phase of a brand new Modular Refinery by Waltersmith Petroman Oil Ltd., located at Ibigwe in Imo State.

In a tweet on Sunday, the presidency said the refinery would be commissioned during the week.

It noted that the Nigerian government has a stake in the refinery following an investment by the Nigerian Content Development and Monitoring Board (NCDMB).

Waltersmith’s modular refinery in Imo State

“This week President @MBuhari will Commission the first Phase of a brand new Petroleum Refinery by WalterSmith Limited, located at Ibigwe in Imo State,” the presidency tweeted.

“The @NigeriaGov holds a stake in the Refinery, following an investment by @OfficialNCDMB.”

Waltersmith’s modular refinery in Imo State

Waltersmith said the phase 1 is the delivery of 5,000 BPD Modular capacity refinery that is strategically located near the existing flow station and will process the circa 6,000 boepd currently produced by the upstream business to the readily available market in the south-eastern part of Nigeria.

The company noted that it is expected to contribute about 271 million litres of refined products including Diesel, Naptha, HFO and Kerosene annually to the domestic market and create both direct and indirect jobs particularly within the host communities.

It added that the phase 2 involves the delivery of 25,000 BPD crude and condensate refinery; an upgrade on the 5,000bpd modular refinery.

The project is still at an early stage of development but is designed to produce the following products: gasoline, diesel, LPG, kerosene and aviation fuel.

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