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UPDATE 1-Nigeria's BUA selects France's Axens for 200,000 bpd refinery project

Published 01/09/2020, 14:14
Updated 01/09/2020, 14:18
© Reuters.

(Adds detail, quote)
By Chijioke Ohuocha
ABUJA, Sept 1 (Reuters) - Nigerian conglomerate BUA Group
has selected France's Axens for a multibillion-dollar 200,000
barrel per day (bpd) refinery and petrochemicals plant in
Nigeria, the French company said in a statement on Tuesday.
Axens, which makes systems to convert oil and biomass to
cleaner fuels, said it will provide technology for the
greenfield project designed to produce Euro-V fuels and
polypropylene targeted at domestic and regional markets.
Nigeria, Africa's top oil exporter, aims to become a net
exporter of gasoline and other petroleum products over the next
two years as refinery projects in the West African country come
on stream, the industry regulator said on Tuesday. "This large complex will help in reducing Nigeria's
dependence on imported fuels and petrochemicals," said BUA,
which also has interests in cement, food and mining.
The BUA project will be located in Nigeria's oil-producing
region of Akwa-Ibom state, the statement said.
A separate 650,000 bpd oil refinery, owned by Africa's
richest man, Aliko Dangote, is already under construction in
Lagos.

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