The Imperative of Boosting Africa’s Oil Refinery Investments
The Imperative of Boosting Africa’s Oil Refinery Investments Michael Rettig,Mwangi S. Kimenyi,and Brandon Routman Wednesday, December 11, 2013 Africa in focus
Michael Rettig Brookings
The Imperative of Boosting Africa’s Oil Refinery Investments. AI; Policy 2020 ; Cities & Regions; Global Dev; Intl Affairs; U.S. Economy; U.S. Politics & Govt; More; Michael Rettig All Blog
Africa: The challenge of investing in Africa’s additional
The project, which will consist of an oil refinery, petrochemical plant and fertilizer manufacturing facility, is one of the few in Africa that has seen progress in mobilizing financing. In 2013, DIL announced it had received financing commitments of approximately $6.7 B from 12 banks, with the remaining $3 B to come from equity. The refinery will be operated by DIL’s subsidiary, Dangote Oil
Africa's energy investment Standard Chartered
Energy investment in Africa: unleash the potential The low price of oil has dashed initial hopes for oil and gas investment in Africa, but governments have the opportunity to turn things around. 18 September 2015 Rob Tims Managing Director, Oil and Gas. T he discovery of oil off the coast of Ghana in 2007 and subsequent hydrocarbon finds in Uganda, Kenya, Tanzania and Mozambique
China Aims For Market Share In African Refining Sector
On 22 March 2017, Sinopec agreed a deal to buy out Chevron’s downstream businesses in South Africa and Botswana, in China’s first major investment into the downstream oil industry in Africa.
Dangote Refinery project to boost activities in downstream
The President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase has described as magnificent and spectacular the impact the Dangote Oil Refinery project would have on the
Investing in Crude Oil Refineries dummies
Investing in Crude Oil Refineries. Given the importance of crude oil derivative products, you can make a lot of money investing in refineries. To be useful, crude oil must be refined into consumable products, such as gasoline, diesel and jet fuel, automotive lubricating oil, propane and kerosene, and a myriad other products. For this reason, refineries are a critical link in the crude oil
Winning in the African oil and gas industry Deloitte
Africa is the last energy frontier, a vast continent whose oil and gas reserves are expected by some analysts to see it emerge as the new global hub. 1 But Africa has a habit of dashing forecasts. In 2000, The Economist dubbed Africa ‘hopeless’. 2 Over the next decade, Africa rebutted that tag: labour productivity rose, inflation dropped and economies boomed.
Africa’s Richest Man Courts Blackstone to Boost Nigerian
His investments in oil and gas include a $9 billion refinery near Lagos, which will be able to process 650,000 barrels a day when completed. The company got
Analysis: New African refining projects to cap continent's
Ghana recently said it will build a 150,000 b/d refinery in Takoradi along with potential upgrades at the country's existing Tema Oil Refinery. Angola has also set its sights on building a 200,000 b/d refinery in Lobito by 2022 along with a smaller plant in Cabinda. State-owned Sonangol has recently taken some steps to reform its imports by
Why SA must secure oil refining capacity and how it
There are concerns however that South Africa could face oversupply of oil with its own refinery, given the current global oil glut. READ: Kubayi: New Oil refinery will boost SA industrialisation . Oil is currently priced at less than half the levels of the middle of 2014, due to a persistent surplus, even after the Organisation of the Petroleum
The conundrum of new complex refining investments
The light-heavy is the spread between light products (such as gasoline and diesel) and heavy fuel oil. Since 2009, resid markets have been tight, keeping residue priced at its “higher value” as a feedstock into refinery conversion units. This has meant persistently “narrow” differentials. Contributing to this has been both weak residue supply from low crude runs into refining and
Nigeria's Forte Oil in talks on refinery deal to boost
Nigeria's Forte Oil said on Friday it was in talks with a major refinery to form a strategic partnership for local refining of petroleum products in Africa's top oil exporter, its chief executive
Nigeria: How Dangote Refinery Will Boost Africa's
The Dangote Refinery is an oil refinery owned by the Dangote Group that is near completion in Lekki, Nigeria. When completed, it will have a capacity to process about 650,000 barrels per day of
Dangote plans $16 billion investment to boost
Dangote Group, the Nigerian company controlled by Africa’s richest man Aliko Dangote, plans to invest about $16 billion in cement, petrochemicals and agriculture over the next four years to boost expansion. We are investing $4.7 billion to finish our projects in cement in about 18 countries, including Nigeria,” Dangote, the company’s president, said in an
Nigeria's Dangote Refinery to boost Footprint to Africa
The Head, Quality Assurance/Quality Control, Dangote Oil Refinery Company Limited, Rama Rao Putta said the project would be the largest single train petroleum refinery in the world with capacity to process 650,000 barrels per day of crude oil. He revealed that the company has completed the training of the first and second batches of Nigerian Engineers in India.
Boosting small enterprises in the petroleum logistics
DURBAN FFS Refiners, a supplier of hydrocarbon solutions, is trying to drive change in KwaZulu-Natal by boosting small enterprises in the petroleum logistics sector, which is dominated by global
Malaysia Oil Refinery Sdn. Bhd.
The planned facility also raises hope to revive past projects that will ultimately secure a much-needed economic boost to the nation’s oil and gas sector. MOR's proposed refinery facility will be built to focus on refining imported heavy crude oil from Middle East, Africa and Eastern Europe for a range of product-mix, mainly for export to our Asian neighbours.
SAMIR: Can Morocco Exploit Lease, Low Oil Prices to Save
In severe financial straits, the oil refinery was forced to shut down operations in August 2015. The latest developments could mean a new lease of life for Morocco’s SAMIR.
New oil refinery in the pipeline for KZN IOL
A South African-owned company is in discussions with government officials about the feasibility of constructing a multi-million-rand oil refinery in the uMhlathuze region in KwaZulu-Natal.
India Seeks Bigger Bite in Africa's oilnewskenya
This year’s conference will also give special focus on the following areas: Capabilities of India and Africa in the hydrocarbons sector, Opportunities for boosting India-Africa trade in oil and gas, Prospects of Indian investment in Africa’s upstream and downstream sectors and Policy and regulatory frameworks of Africa and India.
Saudi Arabia prepares huge investment package for
At the heart of the investment is a reported $10 billion refinery and oil complex in the strategic Gwadar Port on the Arabian Sea, the ultimate destination for the massive multi-billion dollar
Dangote refinery’ll boost downstream oil sector, says
Dangote refinery’ll boost downstream oil sector, says LCCI . Published October 22, 2018 October 22, 2018. Kindly Share This Story. LCCI president Babatunde Ruwase. ’Femi Asu. The Lagos Chamber
Dangote refinery: Raising hope for Nigeria’s oil sector
Recently, the Minister of State for Petroleum Resources, Chief Timipre Sylva, while affirming the Dangote Petroleum Refinery’s capacity to boost foreign direct investment, said the completion
Inside Africa's Oil & Gas industry in 2019
At the end of 2017, Africa was estimated to have 487.7 tcf of proven gas reserves (7.1% of global proven reserves), whilst Africa’s proven reserves of oil are in the region of 125 billion bbl. Africa’s downstream sector has been fairly static in recent years with total refinery throughput hovering around 2.1 million bbl/d, however as we’ll see a wealth of new refinery upgrades or new
Mr. Aliko Dangote is the investment machine of Africa
Africa has emerged a sure-footed and high yielding region for investment, but its transformative change in investment possibilities is driven, not by foreigners, but by Africans, spearheaded by Nigeria’s industrialist Aliko Dangote. Aside boosting Africa’s cement market with an investment of over $16 billion, he has invested substantially in other critical sectors, such as oil and gas
UPDATE 2-Trafigura's 1st Asia refinery investment in
This is the first direct investment in the refining business by Trafigura Pte Ltd, a unit of the world’s third largest crude oil trader Trafigura Beheer B.V., which has so far invested in the
Refining: German refining industry on the verge of
Among the refining assets controlled by Rosneft in Germany are Bayernoil (which provides fuel to Bavaria and northern Austria; Rosneft holds a 25% stake), MiRO in Baden-Württemberg (24%) and PCK-Raffinerie (54.17%) (Fig. 3).As a result of its deal with BP, Rosneft now holds more than 12% of Germany’s refining capacity, making it the third-largest refiner in the country and one of the
World Bank keeps investing in fossil fuel projects
Lagos: world's largest oil refinery project backed by World Bank 12.04.2019 West Africa correspondent Fanny Facsar talks to DW about the world's largest refinery project in Lagos, Nigeria.
REFINERY NEWS ROUNDUP: Some refineries
–IOC plans to expand the atmospheric and vacuum unit at its Barauni refinery to boost its overall capacity to 9 million mt/year by 2021. –At Thailand's Bangchak Petroleum an expansion plan is under way to ramp up the 120,000 b/d refinery's production capacity to 140,000 b/d in 2020, through installation of a continuous catalyst regeneration unit.
Africa’s richest man Aliko Dangote courts Blackstone to
Aliko Dangote, Africa’s richest man, plans to quadruple the supply of gas to Nigeria by building pipelines that may be backed by Carlyle Group LP and Blackstone Group LP, the world’s two biggest private-equity firms.. Dangote, who has a net worth of $15 billion according to the Bloomberg Billionaires Index, will invest $2.2 billion to $2.5 billion in two sub-sea 550-kilometer (341-mile
Reliance Plans To Boost Capacity Of World’s Biggest Oil
Reliance’s Jamnagar refinery has crude processing capacity of 1.24 million barrels per stream day (BPSD), and is future ready and can produce gasoline and diesel of any grade, according to the
Dangote Refinery project to boost activities Africanews
Speaking on the progress made so far, Head, Quality Assurance/Quality Control, Dangote Oil Refinery Company Limited, Rama Rao Putta, described the project as the largest single train petroleum
Nigeria and Namibia Boost Cooperation Petroleum Africa
Nigeria and Namibia set to build joint oil refinery to strengthen bilateral ties and boost cooperation in the energy sector. Nigeria’s President Goodluck Jonathan recently visited Namibia to discuss and sign off on 11 memoranda of understanding (MoU) in a bid to strengthen and diversify bilateral cooperation between the two nations. Nigeria is Africa’s biggest oil producer (est 2.2million
Russia's VEB may invest in Moroccan refinery, Congo
Sochi — Russian state development bank VEB has signed investment cooperation deals with African organizations including on financing a refinery in Morocco, and an oil products pipeline in the Republic of Congo. The deals were signed during the inaugural Russia-Africa Summit, set up to further Russia's strategy of boosting its trade relationship with African countries.
Saudi investment in Gwadar oil refinery to boost China
China Pakistan Economic Corridor (CPEC) has received significant boost in its efforts to strengthen regional connectivity after Saudi Arabia agreed to join hands and fund a major oil refinery project.
Dangote to add oil to expanding business empire
With the refinery, Dangote aims to help end Africa’s largest oil producer’s reliance on imported fuel. The plant will reach “mechanical completion” in December and full operations is
Kenya says crude oil capacity insufficient for refinery
Crude oil deposits discovered in Kenya are insufficient to justify construction of a refinery, a senior petroleum ministry official said on Tuesday. Kenya discovered commercial oil in 2012 in its Lokichar basin, which Tullow Oil estimates contains an estimated
Dangote Refinery project to boost activities in
Dangote Refinery project to boost activities in downstream- LCCI The President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase has described as magnificent and spectacular the impact the Dangote (Dangote) Oil Refinery project would have on the Nigeria’s downstream petroleum sector.He said the refinery will lead to the protection of forex
Astron Energy to invest $420 million in South Africa's
Molapo said rand 800 million will be invested in the first year to upgrade and modernize the Cape Town-based oil refinery. "The last investment for growth in the refinery was 1996, when jet fuel capacity was increased. Since then, it has been maintained and sustained [at these levels]," he said.