The management of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has issued operational license to Edo Refinery and Petrochemical Company Limited, Ologbo in Ikpoba-Okha local government area of Edo State.
The NMDPRA is the Technical and Commercial Regulator of Midstream and Downstream Operations in the petroleum industry.
Issuance of operational license is the final stage of approval from the regulatory authority which implies that the plant can now fully operate as a refinery.
The authority’s chief executive officer, Ahmed Farouk in a ceremony, handed the certificate to AIPCC, the parent company of Edo Refinery and Petrochemical Company Limited.
Farouk, who was accompanied by the Executive Director, NMDPRA, Hydrocarbon Processing Plant Installation and Transport Infrastructure Mr Francis Ogaree handed over the operational license to the refinery Head, Technical Operations, Segun Okeni.
During the handover, the CEO of NMDPRA, commended the company for attaining this feat and urged the firm to do more.
The NMDPRA executive director, assured management of the refinery that the regulatory authority is a business enabler and will be ready to give AIPCC Energy/Edo Refinery all the necessary support in its projects.
Responding on behalf of AIPCC Energy, the Head, Technical Operations of Edo Refinery and Petrochemical Company Limited, Messrs Segun Okeni said the company is making its contributions to the petroleum refinery and gas processing subsector.
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He disclosed that already AIPCC is developing three other projects and one of such would be completed in the next one year.
Okeni, in a statement in Benin on Tuesday made available to journalists, explained that the operational license is the final stage of approval from the regulatory authority, which he said implies that the plant can now fully operate as a refinery.
He said: “It starts from License to Establish, License to Construct, Approval to introduce Hydrocarbon, pre-commissioning and commissioning, operate the refinery for some time to ensure it has the capacity to do so and finally the License to Operate, LTO.”
Against the backdrop of alleged none allocation of crude from the NNPCL, Okeni disclosed that the refinery is finalizing arrangements with an indigenous oil company to access crude oil for optimal production capacity.
“We are finalizing a major crude supply agreement with an indigenous oil company. Although the Nigerian Upstream Petroleum Regulatory Commission and NMDPRA have been supportive but once we find a source of crude they will normally give us urgent approval. However with this licensing, NUPRC ought to consider existing local refineries in the bidding round for marginal field,” he said.
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