$3.8bn refinery: BUA addresses speculations, gives update
BUA Refinery and Petrochemical has announced that it is on track to complete its $3.8 billion plant in Akwa Ibom.
In a statement on Saturday, the firm dismissed reports that the refinery is 90 percent complete.
The clarification comes amid reports that the 200,000-barrel-per-day refinery is 90 percent completed.
However, the company described the report as misleading.
“Contrary to a misleading report stating that our 200,000 barrels/day refinery is
at 90% completion, BUA wishes to advise the public to disregard such misleading
reports that did not emanate from us.
“As we make remarkable strides on our Akwa lbom refinery project, we are proud to Share that construction is progressing steadily. Whilst the refinery is not at 90 percent completion, we are, however, on track to meet our delivery timelines in collaboration with our partners.”
In January 2024, the Dangote Refinery kicked off the production of petroleum products.
The 650,000 barrels per day refinery started rollout of petrol in September 2024.
Most recently, the Nigerian National Petroleum Company Limited announced that Port Harcourt and Warri refineries have restarted operations after rehabilitation in November and December 2024.
