Nigeria Refining Push Prompts $3.6 Billion Petrolex Plan
- Plant in Ogun state will have 250,000-barrel-a-day capacity
- Government seeking to end petroleum-product imports in 2 years
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Nigeria is set to get another new oil refinery as a government push to end fuel imports attracts investors to the industry.
Petrolex Oil & Gas Ltd. plans to build a $3.6 billion plant with a capacity of 250,000 barrels a day, Chief Executive Officer Segun Adebutu said in an interview in Lagos. The closely held company is working on the “front-end engineering design” and will complete construction in 2021, he said.