New Refinery Plus 1,500 New Jobs Coming to
Rivers State and Nigeria
By Russel Duke
National Standard Finance is delighted to
announce its first major investment in Nigeria as
part of its recently announced Economic Stimulus
plan for Nigeria.
Omega-Butler Refineries from the UK and National
Standard Finance, LLC have teamed up to are
build and finance a “turn-key” construction of
modular mini oil refinery starting with capacity of
1,000,000 metric tons per year (20,000 barrels per
day) in Port Harcourt, Rivers State.
This will be the first module; further modules will
be built once the first module becomes profitable,
making 100,000 bpd in total.
Employing the most progressive technologies of
deep crude oil processing, the Refinery is
designed for production of environmentally
friendly Motor Fuels (Petrol and Diesel, matching
strict requirements of Euro-3&4 standards) and
high quality Bitumen suitable for roads
construction.
With the Yield of light oil products around 90%,
this Mini Refinery outperforms the industry
standards. It will deliver the initial requirement of
the local community and reduce the current
reliance on imported gasoline and motor fuel.
The rest will be sold in advance to existing
customers of Omega-Refineries all over the world.
To reduce capital expenditures against costly
traditional technologies, innovative Mini Refinery
is engineered with three integrated Process Units:
• DOR Unit (Deep Oil Refining) with patented
Visbreaking-Termakat® Technology to achieve
high Yield of light products;
• CDT Unit (Catalytic Distillate Treatment) to
produce high-octane Petrol and Diesel with low
sulfur content;
• DGF Unit (Desulfurization and Gas Fractioning)
for gas treatment, sulfur production and
environmental protection.
To expedite start-up of the Mini Refinery into
operation, the Project Schedule is divided in two
stages, which allows launching Deep Oil Refining
(DOR) Unit and Desulfurization and Gas
Fractioning (DGF) Unit, combined with supporting
infrastructure of the Refinery, in extremely short
time – 12 months. The second stage, including
Catalytic Distillate Treatment (CDT Unit), will be
finished overall in 24 months.
This approach will allow efficient allocation of
investments and revenue stream from the first
stage operation will facilitate to finance overall
construction of the Refinery.
Rivers State Government will provide the 40
hectares of land and Omega-Butler, a UK based
refinery and LNG company as 80% owners of the
project are providing the project construction
funding from National Standard Finance. Omega-
Refineries will Build, Operate, Manage and provide
the necessary expertise to keep the refinery
profitable for decades to come.
Omega-Refineries will be responsible for selling
the refined products into our existing market in
Nigeria through local retailers. We expect 100% of
the refined products be pre-sold in advance
through a forward contracts.
Project Cost and Economic Benefits
Overall value of the Refinery upon completion will
be in the range of U.S. $1 billion. Overall
Budgetary Price of the Mini Refinery is U.S. $480
million. (Lump sum “turn-key” delivered, for two
stages of construction, including cost of local
amenities. This is 50% less than the cost of a
second hand ready-made refinery of conventional
refinery of similar capacity, even without the
waste management capacity of the Port Harcourt
Refinery). Full scope of Engineering, Procurement,
Construction, Supervising and Project
Management Services is included in Budgetary
Price (within Battery Limits of the Refinery).
Break-even period for investments is expected to
be five years. The Refinery will create an
estimated 500 full-time jobs and 1,000 ancillary
jobs resulting in a total of 1,500 new high quality
jobs in Rivers State and Nigeria. This does not
include local suppliers and sub-contractors.
Value:
Value of the completed refinery, including the
crude oil allocation and refinery license is
estimated at US$1.750 billion.
Conclusion:
National Standard Finance, together with Omega-
Butler, with the help of the Rivers State
Government will be an invaluable partner and
contributor to this project by making sure the
refinery is well managed and profitable, including
selling all refined products into existing market
through national retailers in Nigeria well in
advance of production. Omega-Butler Refineries
will also give priority of training and employment
to local people from Port Harcourt and environs
and to indigenous companies.
Global Sovereign & Infrastructure Investors
National Standard Finance, LLC is a leading
multinational institutional alternative investment
company and asset manager that specializes in
sovereign (government) and infrastructure
investing. National Standard is capitalized by a
consortium of large North American financial
institutions and some of the world’s leading
global investment banks with combined financial
assets exceeding US $2 Trillion which provide us
with the financial backing to tackle the most
complex and challenging financial transactions.
National Standard maintains offices and staff
across the global markets we serve.
A pioneer with best in class capabilities in global
sovereign and infrastructure financial markets,
National Standard is partnered with sovereign and
sub-sovereign governments, helping design and
fund infrastructure development programs. This
includes leading government sponsored finance
agencies and many of the world’s elite
institutional investors, to create a progressive
global capital syndicate dedicated to financing
critical infrastructure and sovereign capital
requirements around the world.
The sector focus is credit-worthy essential
infrastructure assets, including but not limited to
transportation, energy (Power, Oil & Gas), social
programs including low income housing,
healthcare and other mission critical assets
sponsored by sovereign partners and executed by
world-class private sector partners.
National Standard’s mission is to provide long
term flexible private infrastructure capital [debt,
leasing & equity] to select international markets,
massively underserved by deleveraging
international banks, formerly the backbone within
these segments.
National Standard’s Africa operations (National
Standard Finance Africa) are managed out of
Johannesburg, South Africa and is managed by
Michael Tichareva, Principal and Managing
Director of National Standard Finance Africa and
Kajiya Kantumoya, Director of Investments for
Africa.

http://www.ngrguardiannews.com/2015/05/ new-refinery-plus-1500-new-jobs-coming-to- rivers-state-and-nigeria.

Good news

In *beremx voice* lalasticlala come and move this to fp because wike is walking the talk in his first 1hour as governor

Way To Go!
I believe!
Nigeria will work

Old news.

Amaechi must hear this.

...

Interesting.

Amaechi the enemy of the state was busy chasing shadows, how can investment enter a state whitout court and asembly. Wike is working