Nigeria has for lengthy been a significant producer of crude oil ever since the primary business properly was drilled in Oloibiri in present day Bayelsa state. The country presently has an estimated 35.3 billion barrels of hydrocarbon each onshore and offshore belongings largely domiciled within the Niger Delta basin. Nigeria presently ranks tenth in probably the most petroleum-rich nation, and by the far the most affluent in Africa producing over two million 2,000,000 barrels per day.

Nigeria hydrocarbon is categorized largely as ightand weet as the oil is largely free of sulphur. Nigeria is the most important producer of candy oil in OPEC, the organization for petroleum exporting countries. This sweet oil is analogous in composition to petroleum extracted from the North Sea. This crude oil is called onny light Names of other Nigerian crudes, all of that are named in accordance with export terminal, are Qua Ibo, Escravos blend, Brass rivers, Forcados, and Pennington Anfan.

Funding opportunities in the oil and gas trade in Nigeria may be stratified along three classes specifically the up-stream, center stream and down-stream sectors. Whereas the center-stream and downstream sectors as to do with importation, storage and advertising of refined petroleum products,the upstream sector is devoted to the exploration ,manufacturing and refining of hydrocarbons.

For far too lengthy the nation has been dependant on importation of refined petroleum products attributable to the fact the four crude oil refinery in Nigeria can not meet the local demand for the product which at the moment stands at an estimated sixty million 60,000,000 liters of refined petroleum products PMS, DPK and Ago per day.

Really there has by no means been a doubt about the big size of the Nigeria market for the refined petroleum products which is one in all the most important in Africa; the issue has been that of authorities coverage and regulation. The concept of using subsidy to augment the retail worth of refined petroleum products in Nigeria although a superb initiative encourages the importation of the product than native refining of the product.

In view of the current ban on subsidy, the coast is now for savvy investors to the opportunity and invests the local refining of hydrocarbon in Nigeria therefore the necessity for this article to boost awareness about the chance.

The Mini Refinery & Portable Crude Oil Distillation Plant is able to processing from 2,000 Barrels Per Day (BPD) of any stream of Mild or Heavy Crude Oil inside API Gravity of 29- 42.8, into Naphtha, Diesel, Kerosene and Gas Oil.

Mini Refineries are ideally fitted to remote places and are viable for Investments by Private and Public Sector Teams as a supply of rapid manufacturing of main gas products and uncooked supplies for Petrochemical Downstream Industries.

The investor can apply for oil block allocation or partner with authorities at completely different stage on a PPP basis to guarantee investment and feedstock for the production plant.

Establishing a crude oil refinery requires approval from the division of petroleum assets, the petroleum regulatory organisation in Nigeria.

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