Library / PRESS RELEASE AIPCC Energy to refine 50,000bpd locally by 2024 Nigeria’s quest for self-sufficiency in the refining of petroleum products, especially Premium Motor Spirit (PMS), is bearing fruit as AI

PRESS RELEASE AIPCC Energy to refine 50,000bpd locally by 2024 Nigeria’s quest for self-sufficiency in the refining of petroleum products, especially Premium Motor Spirit (PMS), is bearing fruit as AI

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PRESS RELEASE 
 
AIPCC Energy to refine 50,000bpd locally by 2024 
 
Nigeria’s quest for self-sufficiency in the refining of petroleum products, especially 
Premium Motor Spirit (PMS), is bearing fruit as AIPCC Energy is putting infrastructure 
in place to refine 50,000 barrels per day (bpd) of crude oil by 2024. 
The Chairman, AIPCC Energy Limited, Mr Micheal Akemere Osime made this known 
on Thursday in Abuja when he visited Mr Farouk Ahmed, the Chief Executive Officer, 
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). 
According to Osime, the Company is currently working on a 6,000bpd Modular 
Refinery and Petrochemical Facility in Ologbo, Edo state, out of which 1,000bpd has 
been completed and will soon be operational. 
He further stated that work has begun on the 2nd phase of the Company’s expansion 
programme which aims to increase refining capacity to 5,000bpd. In addition, he said 
that partnering with their Chinese investors, the AIPCC has a five-year plan to increase 
production to 30,000bpd by 2023 and 50,000bpd by 2024. 
The Chairman also revealed that the AIPCC has recently signed an agreement with 
China Tianchen Engineering Corporation (TCC) to build an 80,000bpd refinery and 
petrochemical complex, at Koko, Delta state, which will also include a fabrication yard 
to achieve 100% local fabrication. 
In summary, Osime said AIPCC plans to attract investment of over $1 billion dollars 
into the midstream Oil and Gas sector in Nigeria, in 5 years. To this end, he called on 
the NMDPRA to support the Company and ensure that its plans come into fruition. 
Mr Farouk Ahmed, the Chief Executive Officer, NMDPRA commended the AIPCC for 
its investment which will lead to self-sufficiency in petroleum products refining in 
Nigeria, in line with the Authority’s mandate of boosting local refining to meet demand. 
He assured the Company of the Authority’s full support and enablement for private 
sector investment in the midstream and downstram sector to thrive, leading to social 
security, technology development, job creation and wealth for the nation. (ENDS) 
25/11/2021