• About
  • Advertise
  • Privacy & Policy
  • Contact
Elanza News
Advertisement
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • ABOUT US
  • CONTACT US
  • Gbajabiamila to Aides: We Have Accomplished Much In Four Years
No Result
View All Result
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • ABOUT US
  • CONTACT US
  • Gbajabiamila to Aides: We Have Accomplished Much In Four Years
No Result
View All Result
Elanza News
No Result
View All Result
Home News

Obaseki Reforms: Edo Refinery Targets $125m Per Annum Haul From Export

Elanza by Elanza
March 31, 2023
in News
0
Edo Govt Directs Ambrose Alli University MGT to Retrieve Illegal Sack Letters
Share on FacebookShare on Twitter

The Edo Refinery and Petrochemical Company (ERPC) Limited, operators of the 6000bpd Modular Refinery in Ologbo, Ikpoba Okha Local Government Area, is on course to make about $125m per annum from the export of naphtha, one of the products from its plant.

The refinery has doubled down on production since it started processing crude oil sourced from Oza Oil Field, as it recently placed an order for 150,000 barrels of crude from operators of the marginal field, Decklar Resources Inc. and Millenium Oil and Gas Company Limited.

Chairman of ERPC, Dr. Mike Osime, had said that the refinery at full capacity is expected to meet 18 percent of local demand for diesel and earn foreign exchange from its operations, which will boost Edo’s economy.

It is estimated that the facility will rake “in excess of $125m from the export of Naphtha per annum,” according to estimates from the company, who secured financing from the Governor Godwin Obaseki-led Edo State Government, which contributed N700m for the commencement of the project.

The funding from the Edo State Government fast-tracked the kick-off of the project, which will boost productivity in the state and beef up tax receipts.

The facility with its feedstock can produce 50 per cent of diesel (500,000 litres), 25 percent of naphtha (300,000 litres), and 20 percent of Low Pour Fuel Oil (LPFO) (200,000) litres.

Edo Refinery is the first of two refineries operating in Edo State, with the second being the Duport Refinery, which operates from West Africa’s first Energy Park, in Egbokor, Orhionmwon Local Government Area of the state.

Like this:

Like Loading...
Previous Post

BREAKING: “DSS Wants To Arrest Me Over Interim National Government” – Popular Activist Cries Out

Next Post

Rivers: APC Threatens To Barricade INEC Office Over Alleged Refusal To CTC Of Results

Elanza

Elanza

Next Post
48 APC Support Groups Declare Support For PDP Guber Candidate In Rivers

Rivers: APC Threatens To Barricade INEC Office Over Alleged Refusal To CTC Of Results

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow us on

  • Trending
  • Comments
  • Latest
Kaduna Guber:  Don’t Throw Kaduna Into Crisis, Group Warns INEC

Kaduna Guber: Don’t Throw Kaduna Into Crisis, Group Warns INEC

March 20, 2023
2023 Guber Polls: Kaduna PFN Urges Citizens Not To Despair

2023 Guber Polls: Kaduna PFN Urges Citizens Not To Despair

March 14, 2023
Breaking News: Governor Uzodinma, Wike, Bello Others Shortlisted On United States Visa Ban List

Breaking News: Governor Uzodinma, Wike, Bello Others Shortlisted On United States Visa Ban List

May 17, 2023
Review Kaduna Election Results Now, Protesters Tell  INEC

Review Kaduna Election Results Now, Protesters Tell INEC

March 23, 2023

Polygamy Major Cause Of Poverty In The North – Emir Sanusi

0

Rerun: Gunmen Hijack Election Materials In C/River, Abduct INEC Staff

0

Alleged N11m COVID- 19 Palliative In Nasarawa And The Verdict, By Musa Adamu

0

COVID-19: Senate President Distributes Palliatives To Thousands In Damaturu, Yobe North

0
Kogi 2023: SDP Candidate Didn’t Attend Our School As He Claimed — College

Kogi 2023: SDP Candidate Didn’t Attend Our School As He Claimed — College

June 9, 2023
Gov Gwandu Approves Appointment Of New Kebbi Accountant General

Gov Gwandu Approves Appointment Of New Kebbi Accountant General

June 9, 2023
BREAKING: Tinubu Suspends Emefiele as CBN Governor

Sonubi Takes Over As CBN Gov ,As Tinubu Remove Emefiele

June 9, 2023
BREAKING: Tinubu Suspends Emefiele as CBN Governor

BREAKING: Tinubu Suspends Emefiele as CBN Governor

June 9, 2023

Recent News

Kogi 2023: SDP Candidate Didn’t Attend Our School As He Claimed — College

Kogi 2023: SDP Candidate Didn’t Attend Our School As He Claimed — College

June 9, 2023
Gov Gwandu Approves Appointment Of New Kebbi Accountant General

Gov Gwandu Approves Appointment Of New Kebbi Accountant General

June 9, 2023
BREAKING: Tinubu Suspends Emefiele as CBN Governor

Sonubi Takes Over As CBN Gov ,As Tinubu Remove Emefiele

June 9, 2023
BREAKING: Tinubu Suspends Emefiele as CBN Governor

BREAKING: Tinubu Suspends Emefiele as CBN Governor

June 9, 2023
Elanza News

Elanza News is a hard copy, multimedia and digital platform that gives general news. We thrive to give accurate and timely information to our readers all over the world through our trained and experienced editorial staff. We will defend both the rich and the poor and ensure that all legitimate businesses thrive. For advert placement please call:
+234 8103858616

Follow Us

Browse by Category

  • Business
  • Education
  • Entertainment
  • Fact Check
  • Health
  • Life
  • News
  • Opinion
  • Politics
  • Security
  • Sport
  • Uncategorized

Recent News

Kogi 2023: SDP Candidate Didn’t Attend Our School As He Claimed — College

Kogi 2023: SDP Candidate Didn’t Attend Our School As He Claimed — College

June 9, 2023
Gov Gwandu Approves Appointment Of New Kebbi Accountant General

Gov Gwandu Approves Appointment Of New Kebbi Accountant General

June 9, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 Elanza News - Designed and managed by Fidev Agency.

No Result
View All Result
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • ABOUT US
  • CONTACT US
  • Gbajabiamila to Aides: We Have Accomplished Much In Four Years

© 2023 Elanza News - Designed and managed by Fidev Agency.

%d bloggers like this: