Transparency and Integrity


French Company To Build 200,000bpd Refinery For BUA Group In Akwa Ibom

BUA Group makes a move to embark has announced the selection of France-based Axens for its proposed 200,000 refinery project which would be cited in Akwa Ibom state as it makes to embark on an incursion into refining oil.

Abdulsamad Rabiu, the chairman of BUA, and Jean Sentenac, the CEO of Axens, have reportedly signed an agreement to that effect at a ceremony which took place in Paris, France.

Axens is is renowned internationally for providing a wide range panacea for regenerating oil and biomass to cleaner fuels, to help produce and serve as a purifier of major petrochemical intermedial which also includes treatment of gas and conversion options.

According to the report by TheCable, the offer includes technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services

Nigeria plans to become a net exporter of gasoline and other petroleum products over the next two years as refinery projects in the country come on stream.

Similarly, a 650, 000 bpd oil refinery owned by Africa’s richest man, Aliko Dangote, is already under construction in Lagos and is scheduled for completion in next year after several delays.

“Nigeria imports 90% of it’s petroleum products. We spend 35% of our foreign exchange on importing petroleum products,” Rabiu said.

KBR energy consultants, which managed the bidding process, will handle subsequent rounds for the engineering and construction phase.

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