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The Omega Butler Refinery is a proposed oil refinery to be built on 121-acres of land in Rivers State, Nigeria. It will have a capacity of 20,000 barrels per day, along with 90% yield of light oil products. Once established, the refinery will reduce fuel cost, create up to 1500 jobs, and contribute to the state's economic growth.
Operational licenses have since been granted by the Department of Petroleum Resources (DPR) to facilitate the commencement and execution of the project. [1] On 27 May 2015, it was announced that ₦96 billion (US$ 480 million) has been budgeted for engineering procurement, construction, supervision and project management services. [2]
Nigeria, officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of Guinea to the south in the Atlantic Ocean. It covers an area of 923,769 square kilometres (356,669 sq mi), and with a population of over 230 million, it is the most populous country in Africa, and the world's sixth-most populous country. Nigeria borders Niger in the north, Chad in the northeast, Cameroon in the east, and Benin in the west. Nigeria is a federal republic comprising 36 states and the Federal Capital Territory, where the capital, Abuja, is located. The largest city in Nigeria is Lagos, one of the largest metropolitan areas in the world and the largest in Africa.
The economy of Nigeria is a middle-income, mixed economy and emerging market with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. It is ranked as the 39th-largest economy in the world in terms of nominal GDP, the second largest in Africa and the 27th-largest in terms of purchasing power parity.
Oil sands, tar sands, crude bitumen, or bituminous sands, are a type of unconventional petroleum deposit. Oil sands are either loose sands or partially consolidated sandstone containing a naturally occurring mixture of sand, clay, and water, soaked with bitumen, a dense and extremely viscous form of petroleum.
Shell USA, Inc. is the United States-based wholly owned subsidiary of Shell plc, a UK-based transnational corporation "oil major" which is amongst the largest oil companies in the world. Approximately 18,000 Shell employees are based in the U.S. Its U.S. headquarters are in Houston, Texas. Shell USA, including its consolidated companies and its share in equity companies, is one of America's largest oil and natural gas producers, natural gas marketers, fuel marketers and petrochemical manufacturers.
Port Harcourt is the capital and largest city of Rivers State in Nigeria. It is the fifth most populous city in Nigeria after Lagos, Kano, Ibadan and Benin. It lies along the Bonny River and is located in the oil rich Niger Delta. As of 2023, Port Harcourt's urban population is estimated at 3,480,000. The population of the metropolitan area of Port Harcourt is almost twice its urban area population with a 2015 United Nations estimate of 2,344,000. In 1950, the population of Port Harcourt was 59,752. Port Harcourt has grown by 150,844 since 2015, which represents a 4.99% annual change.
The city of Warri is an oil hub within South-South Nigeria and houses an annex of the Delta State Government House. Warri City is one of the major hubs of the petroleum industry in Nigeria. Warri, Udu, Okpe and Uvwie are the commercial capital of Delta State with a population of over 311,970 people in 2006. The city is the indigenous territory of Itsekiri, Urhobo and Ijaw people.
The PJSC LukoilOil Company is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, petroleum products, and electricity. It was formed in 1991 when three state-run, western Siberian companies merged. The original companies were named after their respective towns in Khanty–Mansi Autonomous Okrug that each was based in; Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz. Its new name is the combination of the acronym LUK and the English word "oil".
China Petroleum and Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.
Nigeria is the second largest oil and gas producer in Africa. Crude oil from the Niger Delta basin comes in two types: light, and comparatively heavy – the lighter has around 36 of API gravity while the heavier has 20–25 of API gravity. Both types are paraffinic and low in Sulphur. Nigeria's economy and budget have been largely supported from income and revenues generated from the petroleum industry since 1960. Statistics as at February 2021 shows that the Nigerian oil sector contributes to about 9% of the entire GDP of the nation. Nigeria is a major exporter of crude oil and petroleum products to the United States of America. In 2010, Nigeria exported over one million barrels per day to the United States, representing 9% of the U.S. total crude oil and petroleum products imports and over 40% of Nigeria exports.
PT Pertamina (Persero) is an Indonesian state-owned oil and natural gas corporation,located in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established in 1957). In 2020, the firm was the third-largest crude oil producer in Indonesia behind US-based companies ExxonMobil's Mobil Cepu Ltd and Chevron Pacific Indonesia. According to the 2020 Fortune Global 500 list. Pertamina is the largest company in Indonesia.
The current conflict in the Niger Delta first arose in the early 1990s over tensions between foreign oil corporations and a number of the Niger Delta's minority ethnic groups who feel they are being exploited, particularly the Ogoni and the Ijaw. Ethnic and political unrest continued throughout the 1990s despite the return to democracy and the election of the Obasanjo government in 1999. Struggle for oil wealth and environmental harm over its impacts has fueled violence between ethnic groups, causing the militarization of nearly the entire region by ethnic militia groups, Nigerian military and police forces, notably the Nigerian Mobile Police. The violence has contributed to Nigeria's ongoing energy supply crisis by discouraging foreign investment in new power generation plants in the region.
INA-Industrija nafte, d.d. is a Croatian multinational oil company. INA Group has leading role in Croatia's oil business, a strong regional position in the oil and gas exploration and production, oil processing, and oil product distribution activities. INA, d.d. is a stock company with the Hungarian MOL Group and the Croatian Government as its biggest shareholders, while a minority of shares is owned by private and institutional investors. INA shares have been listed at the London and Zagreb stock exchanges since December 1, 2006. INA Group is composed of several affiliated companies wholly or partially owned by INA, d.d.. The Group has its headquarters in Zagreb.
The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote. It is the largest conglomerate in West Africa and one of the largest on the African continent. The group employs more than 30,000 people, generating revenue in excess of US$4.1 billion in 2017.
Shell plc is a British multinational oil and gas company headquartered in London. Shell is a public limited company with a primary listing on the London Stock Exchange (LSE) and secondary listings on Euronext Amsterdam and the New York Stock Exchange. A core component of Big Oil, Shell is the second largest investor-owned oil and gas company in the world by revenue, and among the world's largest companies out of any industry. Measured by both its own emissions, and the emissions of all the fossil fuels it sells, Shell was the ninth-largest corporate producer of greenhouse gas emissions in the period 1988–2015.
Nigeria had one of the world's highest economic growth rates, averaging 7.4% according to the Nigeria economic report that was released in July 2019 by the World Bank. Following the oil price collapse in 2014–2016, combined with negative production shocks, the gross domestic product (GDP) growth rate dropped to 2.7% in 2015. In 2016 during its first recession in 25 years, the economy contracted by 1.6%. Nationally, 43 percent of Nigerians live below the poverty line, while another 25 percent are vulnerable. For a country with massive wealth and a huge population to support commerce, a well-developed economy, and plenty of natural resources such as oil, the level of poverty remains unacceptable. However, poverty may have been overestimated due to the lack of information on the extremely huge informal sector of the economy, estimated at around 60% more, of the current GDP figures. As of 2018, the population growth rate is higher than the economic growth rate, leading to a slow rise in poverty. According to a 2018 report by the World Bank, almost half the population is living below the international poverty line, and unemployment peaked at 23.1%.
The Port Harcourt Refining Company,, is a Nigeria-based oil and gas company primarily specializing in the refining of crude oil into petroleum products. It is headquartered in Port Harcourt metropolitan area of Rivers State, southeastern Nigeria. The company is a subsidiary of the Nigerian National Petroleum Corporation (NNPC).
Lekki is a city in Lagos State, Nigeria. It is located to the south-east of Lagos city. Lekki is a naturally formed peninsula, adjoining to its west Victoria Island and Ikoyi districts of Lagos, with the Atlantic Ocean to its south, Lagos Lagoon to the north, and Lekki Lagoon to its east; however, the city's southeast, which ends around the western edge of Refuge Island, adjoins the eastern part of Ibeju-Lekki LGA.
The Port Harcourt Electricity Distribution Company (PHED) is a private electric distributor that provides power for a total of 14 million people in 4 states of Nigeria including Rivers, Bayelsa, Cross River and Akwa Ibom. It first operated as a government-owned enterprise before being privatized in 2013. Presently, PHED is owned by 4 Power Consortium Ltd. The headquarters are located at 1 Moscow Road in Old GRA, Rivers State.
Izombe in the northeast of Niger Delta is an oil town in Njaba River basin, Imo State Southeastern Nigeria.
Segun Adebutu is a Nigerian businessman, economist and philanthropist. He has business interests in oil and gas, shipping, mining, construction, real estate, agriculture and entertainment. He is the chairman and CEO of Petrolex Oil and Gas, a company presently building the second largest refinery in sub-Saharan Africa.
