Modular Refinery Strategy Back As Presidency Weighs Petrol Agony

Modular Refinery Strategy Back As Presidency Weighs Petrol Agony

Author: Africa Business Radio August 29, 2022 Duration: 27:46
News Express
Business
The Nigerian presidency IS contemplating a return to supporting the establishment of modular refineries mainly by small-scale operators as an option to solve the country’s obdurate petroleum agony, according to a letter from the presidency.
The aim is to use the initiative to mop up hundreds of artisanal refiners that are strewn in most parts of Nigeria’s oil region.
An army of young people has engaged in the illegal business for some years now, which has caused thousands of barrels of crude oil per day to be lost from the production mainstream Nigeria is headed to losing more than $4 billion or N1.6 trillion this 2022 to crude oil thieves, according to a new survey on oil theft in the country

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