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Edo Refinery Orders 200,000 Barrels Of Crude - Politics - Nairaland

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Edo Refinery Laments NNPCl’s Failure To Supply Crude Oil For Production / Nigeria Losing 400,000 Barrels Of Crude Oil To Thieves Daily: NSA Ribadu / NNPC To Supply 300,000 Barrels Of Crude To Dangote Refinery (2) (3) (4)

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Edo Refinery Orders 200,000 Barrels Of Crude by Parachoko: 7:54am On May 10, 2023
Edo Refinery and Petrochemicals Company Limited has placed an order for 200,000 barrels of crude from Oza Oil Field operated by Decklar Resources Inc and Millenium Oil and Gas Company.

It said this was in line with the Edo State Governor, Godwin Obaseki’s drive to transform the state into a major investment and industrial haven in the country.

Recall that Edo Refinery was established with the injection of N700m as redeemable preference shares (investment) from the Obaseki-led government through a memorandum of understanding with a Chinese consortium led by Peiyang Chemical and Equipment Company of China, and its Nigerian partners, Africa Infrastructure Partners Limited.

The 6,000 barrels per day refinery had been completed and had since commenced operation with its main output being diesel, Naphtha and Low Pour Fuel Oil.

In a statement, Decklar Resources Inc. and its co-venturer, Millenium Oil & Gas Company Limited, said they were pleased to announce that trucking of crude oil from the Oza Oil Field to the Edo Refinery and Petrochemicals Company Limited had continued steadily, and total deliveries had now exceeded 27,000 barrels of crude oil under the 30,000 bbls crude sale agreement.

It added that it had also commenced sale of products to the second modular refinery operating in Edo State attracted by the Obaseki-led government, Duport Midstream Company Limited.

Edo Refinery to begin operation August
According to the statement, “Trucking of crude oil also commenced in late March to the Duport refinery in Edo State, with over 3,700 bbls delivered to date.

“Under the sale and purchase agreement with Duport Midstream Company Limited, Decklar and Millenium will initially deliver 5,000 bbls to the Duport refinery, followed by a minimum of 2,500 bbls per month thereafter.”

Noting that they had increased supply to Edo Refinery, the companies said, “The terms of the 30,000 bbls agreement include an invoicing and payment cycle that is triggered as each 5,000 bbls batch is delivered and offloaded at the refinery.

“Invoices for 25,000 bbls have been issued, and total deliveries under this contract are nearing the final 5,000 bbls batch. This cycle will continue after completion of deliveries under the 30,000 bbls contract, as Decklar and Millenium recently signed a sale and purchase agreement with ERPC for delivery of an additional of 200,000 bbls to ERPC’s facility.”

Chief Executive Officer of Decklar Resources, Sanmi Famuyide, said, “Crude oil deliveries to ERPC and to our new customer, DMCL, have been continuing steadily in a routine manner. This has provided consistent cash flow and enabled Decklar and Millenium to deliver and sell substantial volumes of crude oil to both customers. We have delivered a total of over 37,000 bbls to ERPC’s Edo refinery and have delivered over 3,700 bbls to DMCL’s refinery under their initial 5,000 bbls contract.”

https://punchng.com/edo-refinery-orders-200000-barrels-of-crude/

26 Likes 2 Shares

Re: Edo Refinery Orders 200,000 Barrels Of Crude by 1Alex: 7:55am On May 10, 2023
Make we start from here first

58 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by omowolewa: 7:56am On May 10, 2023
Great

4 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by MasterJayJay: 8:18am On May 10, 2023
Which one is low pour fuel? The refinery doesn't produce petrol?

I think states should up their game, especially oil producing states. Build refineries and make your state selfsufficient in petrol.

97 Likes 4 Shares

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Parachoko: 8:21am On May 10, 2023
We need more modular refineries to be built

26 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by darkwan: 8:25am On May 10, 2023
Decklar Resources Inc. (formerly Asian Mineral Resources Limited) is a TSX Venture Exchange listed oil exploration and production company with its primary focus on low risk appraisal and development opportunities in the prolific West Africa region. The company has assembled a management and operational team with significant oil & gas and infrastructure experience in across the region.

Decklar Resources recently acquired Nigeria-based Decklar Petroleum Limited, which has a Risk Service Agreement with Millenium Oil and Gas Company Limited on the Oza Field. Oza is located onshore in the northern part of Oil Mining Lease (OML) 11 in Nigeria's Eastern Niger Delta (Abia State). It is a conventional stacked sands reservoir (12 zones) with proven reserves and delineated exploration upside. Oza is a concession that covers a 20 sq km area of OML 11 that was carved out in 2003 as part of the Government's Marginal Field Development Program.

There is excellent infrastructure already in place, including export pipeline access tied into the Trans Niger Pipeline (TNP), which flows to the Bonny Export Terminal on OML 11, the largest terminal on the African continent operated by Shell Petroleum Development Company (SPDC), the local subsidiary of Royal Dutch Shell plc, who also operates other producing fields in the region, including Isimiri, Obeakpu, Afam, Obigbo and Umuosi. Regional infrastructure provides further trucking solutions for crude oil production.

Decklar has also signed a Share Purchase Agreement to acquire all outstanding shares of Purion Energy Limited, which has a Risk Finance and Technical Services Agreement on the Asaramatoru Field, located in the southern portion of OML 11 near the Bonny Export Terminal.

In addition, Decklar has signed a Share Purchase Agreement to acquire al outstanding shares of Westfield Exploration and Production Limited, which has a Risk Finance and Technical Services Agreement on the Emohua Field, located in OML 22, which is 6km from Port Harcourt and approximately 30km west of the Oza Field.

As Decklar Resources progresses appraisal and development at the Oza, Asaramatoru, and Emohua Fields in Nigeria, the Company will also continue to seek and evaluate potential acquisitions or strategic investments that may be value accretion opportunities.

8 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by tiswell(m): 9:37am On May 10, 2023
edo is a b I a f r a land

245 Likes 7 Shares

Re: Edo Refinery Orders 200,000 Barrels Of Crude by opalu: 9:37am On May 10, 2023
Obaseki was doing all these without making so much noise. I prefer noiseless achievers to noisome noise makers

41 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Savechild23: 9:38am On May 10, 2023
From where
Re: Edo Refinery Orders 200,000 Barrels Of Crude by Savechild23: 9:38am On May 10, 2023
MasterJayJay:
Which one is low pour fuel? The refinery doesn't produce petrol?

I think states should up their game, especially oil producing states. Build refineries and make your state selfsufficient in petrol.

Edo ain’t oil producing State

They may be answering name

1 Like 4 Shares

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Nahunger(m): 9:39am On May 10, 2023
Nice one
If other states can follow suit instead of waiting for FG...
So many unproductive states in this corn tree

7 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Waterlilly: 9:39am On May 10, 2023
upon all these refineries fuel never still reach #40 per liter

3 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Winters23: 9:39am On May 10, 2023
cool
Re: Edo Refinery Orders 200,000 Barrels Of Crude by FILEBE(m): 9:39am On May 10, 2023
1Alex:
Make we start from here first

Yeah. Let's start from there and be moving forward . Other states should emulate and continue. If Nigeria has "continuity" and maintenance, we would have left where we are long ago.

10 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by mysteriousman(m): 9:40am On May 10, 2023
Nice development

1 Like

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Ventura1: 9:40am On May 10, 2023
Nigerians want company that will refine petrol, and sell to them cheap, and they siphon to neighbouring countries to sell at higher price, and starve local consumption.

Diesel and other products of this refinery are not subsidize.

13 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by SOSinNigeria: 9:41am On May 10, 2023
Good news!

Imo State oil refinery has been working too for many months now. They're currently expanding their capacity because demand has continued to outstrip supply.

8 Likes 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Etranshub(m): 9:41am On May 10, 2023
Sighed! Finally something good to hear about my beloved Nigeria. Hopefully this will be a beginning of more and more of such news.


I make fantastic metal work ranging from fish smoking kiln, hamdrails up to warehousing iron roofing

2 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Ezekiel2122(m): 9:41am On May 10, 2023
What a good news!

2 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by BluntCrazeMan: 9:42am On May 10, 2023
.

Now...
THAT’S REALLY HUUUGGEE.!!

I hope they keep up with this pace and even surpass it.

1 Like 1 Share

Re: Edo Refinery Orders 200,000 Barrels Of Crude by christopheojo(m): 9:43am On May 10, 2023
Savechild23:


Edo ain’t oil producing State

They may be answering name

Mumu

12 Likes 2 Shares

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Dodorimaaaaaaa: 9:44am On May 10, 2023
Biafra kpuuf you dia
tiswell:
edo is a b I a f r a land

7 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Highways: 9:45am On May 10, 2023
Nice
Re: Edo Refinery Orders 200,000 Barrels Of Crude by Dodorimaaaaaaa: 9:46am On May 10, 2023
Mumu!
Waterlilly:
upon all these refineries fuel never still reach #40 per liter

1 Like

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Franchise21(m): 9:46am On May 10, 2023
OK
Re: Edo Refinery Orders 200,000 Barrels Of Crude by jayAjoku(m): 9:46am On May 10, 2023
The company I work with has 2 million barrels of crude oil for sale if you are interested contact me Now it’s legitimate
Re: Edo Refinery Orders 200,000 Barrels Of Crude by Successlane: 9:46am On May 10, 2023
tiswell:
edo is a b I a f r a land

which Edo?

6 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by Savechild23: 9:46am On May 10, 2023
christopheojo:

Mumu

I wish Edo people will concentrate in the robbery and whoring prowess instead of getting lost in the pool of oil stolen from igbo

2 Likes

Re: Edo Refinery Orders 200,000 Barrels Of Crude by BJanta: 9:46am On May 10, 2023
Can this adequately serve all the okadas in Benin only talkless of Oredo LGA ? You need investment in your brain and Intelligence more than in anything else.

1 Like

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