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BUA Group To Build 200,000bpd Refinery And Petrochemical Plant - Business - Nairaland

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BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by FriendNG: 1:22am On Sep 02, 2020
BUA Group, one of Africa’s leading foods, mining and infrastructure conglomerates, has signed an agreement with Axens of France for the supply of process technologies for its upcoming 10 million tonnes per annum megarefinery and petrochemicals facility to be sited in Akwa Ibom, Nigeria.

This multibillion dollar integrated 200,000 bpd refinery and petrochemical plant aims at producing Euro-V fuels and Polypropylene for the domestic and regional market.

According to BUA, Axens was selected after a comprehensive process, for its advanced technology licenses, basic engineering, catalysts & adsorbents, proprietary equipment, training and technical services.

The landmark agreement was signed between the Chairman of BUA Group, Abdul Samad Rabiu, and the CEO of Axens, Jean Sentenac, in a ceremony presided over by France’s Minister Delegate for Foreign Trade and Economic Attractiveness, Franck Riester.

BUA Group Chairman and CEO, Abdul Samad Rabiu said the “10million tonnes per annum refinery & petrochemicals project is in line with BUA’s vision to develop local capacity in key industries where we can add most value and where raw materials can be sourced locally.

“Once completed, this RFCC-based complex will produce high-quality gasoline, diesel, jet fuel meeting Euro-V specifications for the Nigerian market and the larger region. In addition, it will produce propylene, an essential component for the petrochemical industry used in polypropylene-based plastics and packaging.

This project will help in reducing Nigeria’s dependence on imported fuels and petrochemicals.”

“It is in the DNA of BUA Group to create efficient, innovative and sustainable businesses; look at our cement plants, the most sustainable in Nigeria, same with our sugar plants.”, Mr Rabiu added.

Axens’ Chairman and CEO Jean Sentenac said: “We are delighted to be part of this strategic project providing the most advanced technologies on the market that are energy-efficient and ensure the production of high-quality fuels and petrochemical intermediates.

This state-of-the-art integrated complex will allow BUA Group to develop its refining and petrochemical capabilities in Nigeria and produce highly valuable products for the domestic market.

It is a great pleasure and a pride to partner with them to concur to develop Nigerian economy and ensure the success of this strategic state of the art project”.


https://www.premiumtimesng.com/business/business-news/411959-bua-group-to-build-200000bpd-refinery-and-petrochemical-plant.html

30 Likes 4 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by ekkywolex(m): 1:25am On Sep 02, 2020
Great

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Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Kokadomfreedom(m): 1:55am On Sep 02, 2020
good development

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Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 2:19am On Sep 02, 2020

6 Likes 2 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by dokyOloye: 2:23am On Sep 02, 2020
Nice.
But d world is gradually moving away from dependence on fossil fuel.

20 Likes 2 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by michlins(m): 2:24am On Sep 02, 2020
If you get money, invest in refineries even if na 10 barrels per day something. Once dangote finishes his own, they will ban fuel importation and he alone will corner the market for himself. We will cry monopoly but he will get richer and there's nothing anyone can do about it

101 Likes 3 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by fulanimafia: 4:23am On Sep 02, 2020
uruba23:
Copy Cat DNA always copying Alhaji.Oga Rabiu they are other sectors you can focus on.

There is nothing wrong in copying success.

Between both of them, we would have a refining capacity of over 850,000 barrels per day in a few years (our total domestic demand is just over 400k/day) leaving a whole lot for forex-earning export which will drive a dramatic fall in the Naira exchange rate with positive multiplier effects on the economy.

We need more Abdulsamad's and Aliko's in this country to build more factories and refineries for the economic development of Nigeria through job creation, import substitution, forex generation etc.

162 Likes 14 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 4:30am On Sep 02, 2020
fulanimafia:


There is nothing wrong in copying success.

We need more Abdulsamads and Alikos from all parts of the country to build more factories and refineries for the economic development of Nigeria through job creation, import substitution, forex generation etc.

Kudos to our enterprising brethren.
Hmmm I like the first sentence it is deep, but he should not be a headache to Alhaji.He should copy with style.

6 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by darfay: 4:31am On Sep 02, 2020
T

11 Likes 2 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by amiibaby(f): 4:31am On Sep 02, 2020
Ok
Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 4:31am On Sep 02, 2020
Kudos

2 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 4:32am On Sep 02, 2020
Bua.. One better thing after dangote

10 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by adeshola1(m): 4:34am On Sep 02, 2020
k
Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by fulanimafia: 4:35am On Sep 02, 2020
uruba23:

Hmmm I like the first sentence it is deep, but he should not be a headache to Alhaji.He should copy with style.

Lol.

As long as the global demand for fossil fuels exists, there will be a ready market for both of them.

There is enough space in the sky for all birds to fly.

33 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by billfast: 4:35am On Sep 02, 2020
The latest data from Chicago and Louisiana show that among people of color, especially black and Latino patients, the proportion of deaths from Covid-19 is too high. Although black people only accounted for 22% of the New York City population, as of mid-April, they accounted for 28% of deaths from the virus. In Chicago, blacks make up 30% of the population and 70% of blacks killed by Covid-19. In Louisiana, blacks make up 32% of the population, but 70% of people die of this disease.
Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by anonimi: 4:35am On Sep 02, 2020
uruba23:
Copy Cat DNA always copying Alhaji.Oga Rabiu they are other sectors you can focus on.

Like the other sectors you have focused your billions on

32 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by tropaz(m): 4:35am On Sep 02, 2020
Northerners are investing in reasonable and worthwhile businesses, while our western elites are investing in exotic clubs. But we say the northerners are less sophisticated. Okay, let's watch and see.

54 Likes 3 Shares

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Atk1nson(m): 4:35am On Sep 02, 2020
BUA template for being a successful business man: do whatever Dangote does

33 Likes 1 Share

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by darfay: 4:37am On Sep 02, 2020
michlins:
If you get money, invest in refineries even if na 10 barrels per day something. Once dangote finishes his own, they will ban fuel importation and he alone will corner the market for himself. We will cry monopoly but he will get richer and there's nothing anyone can do about it


Considering how uselessly useless oil is going especially in the next 30yrs, is such capital intensive project still advisable?
Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 4:37am On Sep 02, 2020
fulanimafia:


Lol.

As long as the global demand for fossil fuels exists, there will be a ready market for both of them.

There is enough space in the sky for all birds to fly.
Okay o.
Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by anonimi: 4:39am On Sep 02, 2020
darfay:
Too bad

The hausas have monopolized our oil first dangote and now this? They successful frustrated others out of this. A wealthy urhobo dude wanted to go into a Jv to set up a refinery in Delta state but the Hausa cabals frustrated him and oh the guy is dead now.

Since southerners are always doing senseless chest beating and cursing plus fighting, the northerners have taken over control of the geographical area created by Luggard.


www.nairaland.com/attachments/3937527_buharisardauna_jpegcb12decad1bd9dd31b45d009f2877b1f


comos:
The Inspector-General of Police, Mr. Ibrahim Idris, on Friday justified the arrest of only suspects of Yoruba extraction over the recent clash in Ile-Ife, Osun State, which resulted in the death of about 46 persons. He said crime neither has tribe nor identity.

Idris spoke with State House correspondents shortly after briefing President Muhammadu Buhari of security situations in parts of the country inside the Presidential Villa, Abuja.

The police had been in the eye of the storm for arresting and parading 20 Yoruba persons, including a monarch, over the clash while not a single Hausa/Fulani person was detained.

The pan-Yoruba group, Afenifere; and the Oodua Peoples Congress are among groups and individuals that have been criticising the police over the development.

Idris however said the police would not hesitate to apply the law once criminal cases are established against individuals, irrespective of their tribe.

He said, “You know we are police officers. Crime has no tribe. If you are a criminal, you are a criminal.

“Crime has no face. We don’t look at crime in the identity of where you are coming from.

“As far as you are a criminal and the police find you wanting, we apply the law.”

He said investigation had revealed that the crisis started with a disagreement between two people selling food along the road.

https://punchng.com/ife-clash-igp-justifies-arrest-of-only-yoruba-suspects/


[img]https://1.bp..com/-_spEZ7TwEzU/XRF8uDxWQJI/AAAAAAADR7I/gPwLfreuV1AGnnOpWLdknSIxhfvR5szUgCLcBGAs/s400/Fulani-Herdsmen-and-Militia-1.jpg[/img]


www.nairaland.com/attachments/8744292_tmpcam1127966872_jpege0a8c4be7449683b6d5804cc18386d05

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Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 4:39am On Sep 02, 2020
anonimi:


Like the other sectors you have focused your billions on
Oga I wasn't addressing you.

2 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by ryloy: 4:39am On Sep 02, 2020
Nice job, they should also join Dangote on partnering with FG on Executive Order 7 as can be seen here

https://www.youtube.com/watch?v=em7Odj2a2Is

1 Like

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by anonimi: 4:41am On Sep 02, 2020

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Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by ifymadu: 4:44am On Sep 02, 2020
Great news... More developmental strides will definitely move the nation towards the desired industrialization. Nigeria will definitely be great again �

6 Likes 1 Share

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by fulanimafia: 4:47am On Sep 02, 2020
Atk1nson:
BUA template for being a successful business man: do whatever Dangote does

It's actually a winning strategy.

You'd be surprised how many investors pay heavily just to copy Warren Buffets trading strategy on the stock markets.

22 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by fulanimafia: 4:51am On Sep 02, 2020
darfay:



Considering how uselessly useless oil is going especially in the next 30yrs, is such capital intensive project still advisable?

Petroleum isn't the only extract after refining crude oil.

Even at that, Planes, Ships and other heavy machinery will still depend on fossil fuels for at least the next 50 years.

34 Likes 1 Share

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Nobody: 4:52am On Sep 02, 2020
darfay:



Considering how uselessly useless oil is going especially in the next 30yrs, is such capital intensive project still advisable?
Funny comment, so you think it is only petrol you get from crude oil, there are more than 5 petroleum products derived from crude that the world depends on that have clean energy and are more sustainable in a long term. nobody would be that stupid to invest in such a capital intensive project owing that the petrol would be sideline in the near future.

15 Likes

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Atk1nson(m): 4:53am On Sep 02, 2020
fulanimafia:


It's actually a winning strategy.

You'd be surprised how many investors pay heavily just to copy Warren Buffets trading strategy in the stock markets.

True bro, if I be billionaire, I will just keep a portfolio for mirroring Dangote.....

10 Likes 1 Share

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Seniorwriter(m): 4:57am On Sep 02, 2020
BUA Group ...the only company that gives Dangote Group a run for their money!!!


@Seniorwriter

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Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by Yankee101: 4:57am On Sep 02, 2020
Copy Dangote

The fastest way to innovate/develop is to copy

Ask China

17 Likes 1 Share

Re: BUA Group To Build 200,000bpd Refinery And Petrochemical Plant by iampeterben(m): 4:59am On Sep 02, 2020
It's a good news, it will give room for more jobs in Nigeria. We pray they complete the projects.

10 Likes

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