Gasoline to bridge energy gap with 100,000bpd refinery

AS scarcity of the premium motor spirit ( PMS), popularly called petrol, continues to spread across many states in the country, as a result of drop in supply by the Nigerian National Petroleum Company Limited, the inability to access foreign exchange at the official rate, and the continued subsidy on PMS, among others, Gasoline Associates International Limited has reinstated its commitment to bridging the energy demand and supply gap in the country.

Gasoline, the license holder and promoter of a 100,000 barrels per day refiner y and petrochemical plant located at Ipokia, Ogun State, is a foreign direct in vestment ( FDI) that seeks to turn the countr y into a net exporter of petroleum products.

Speaking ahead of a press conference to herald the groundbreaking commencement of the project’s implementation, Lola Ogunbambi, Executive Director, Corporate Affair s of Gasoline, said the enterprise is driven by the public- private partnership initiative of the Ogun State Government and the Federal Government, under the leadership of president Muhammadu Buhari.

The project, Ogunbambi noted, is a Sino- Nigeria collaboration with a cost outlay of $ 5 billion, is situated on approximately 812 hectares of land along the coastal plain of the River Yewa in the North of Badagry Lagoon and the Bight of Benin.

“Gasoline has engaged the partnership of a world- class Chinese consortium led by FL Engineering Inc. to deliver on this la udable project in Nigeria. Our Engineering, Procurement, Construction, and Management ( EPC& M)

Consortium is a well- balanced team with proven capacity , combining the advantages of China, Taiwan, and America i n the delivery of an impeccable and advanced worl d- class optimised integrated technology within a 36- month period."

Ogunbambi further disclosed that the organisation is in the process of acquiring an oil field with the prospect of OML on Tongeji Island ( 20 kilometers from the proximal coastline of the refiner y site), for oil exploration to serve the oil refiner y complex on a sustainable basis.