- Another Nigerian company, Clarivo Oil and Gas Ltd, has announced plans to build a world-class refinery in Calabar
- The new refinery, the company said, will feature modern refining technologies to produce petrol, diesel, and aviation fuel
- Obidike Chukwuebuka, the company CEO, said the project will be executed in phases, with a target of 5 years of completion
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Clarivo Oil and Gas Ltd has announced plans to construct a world‑class oil refinery in Calabar.
Obidike Chukwuebuka, speaking to journalists in Calabar on Tuesday, January 20, said the proposed facility will be developed in multiple phases and feature state‑of‑the‑art technologies designed to produce high‑quality petroleum products.
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The company projects that the refinery will come online within about five years, subject to regulatory approvals and the successful completion of project phases.
Insight into, the new refinery
The expected refinery will incorporate modern crude distillation, catalytic cracking and hydrotreating units, key components that would enable the production of products such as petrol (PMS), diesel (AGO) and aviation fuel (Jet A1) to international specifications.
Obidike said the phased development approach will start with comprehensive feasibility studies and front‑end engineering design.
His words:
“Subsequent phases will involve the construction of core processing units, followed by the installation and commissioning of secondary units and systems.
He added that the phased model will allow Clarivo to manage investment risks, align with international operating standards and attract strategic partners, Vanguard reports.
The planned refinery, Obidike explained, is aimed at increasing domestic refining capacity and addressing longstanding challenges in Nigeria’s energy sector, where the country has historically relied on costly imported refined products despite being a major crude producer.
Obidike stated:
“Clarivo’s project is part of broader private sector initiatives to improve energy security, retain foreign exchange, and support industrial growth.”
Obidike noted that the project will be implemented in collaboration with foreign technical partners and investors.
He said:
“Agreements with international stakeholders are being finalised to provide both the technical expertise and financial backing required to bring the refinery to fruition.
“The partnerships are expected to facilitate technology transfer and skills development for local engineers and technicians.”
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On employment, Obidike noted that the refinery’s construction and operations will create jobs across engineering, construction, technical operations and logistics, offering a boost to local employment in Cross River state and beyond, the Nation reports.
Dangote refinery expansion
Earlier, Legit.ng reported that Nigeria’s push to end decades of fuel import dependence received a major boost as Dangote Group awarded a $350 million engineering contract to India’s Engineers India Limited to expand its Lekki refinery to an unprecedented scale.
The deal will add a second processing train to the refinery, lifting total capacity to 1.4 million barrels per day, more than double the current 650,000 barrels per day.
Once completed, the facility will become the world’s largest single-site refinery complex.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng