Who is the owner of Waltersmith?
Who is the owner of Waltersmith?
Abdulrazaq Isa
Abdulrazaq Isa is the Chairman and Co-Founder of Waltersmith Group of Companies. He is a seasoned entrepreneur and astute international businessman with over 30 years of experience in business, financial services and the oil & gas industry.
Who is the owner of Waltersmith modular refinery?
The field is operated by Waltersmith Petroman Oil which holds a 70% stake, while the remaining 30% stake is held by Morris Petroleum.
How much does a modular refinery cost?
The capital outlay for any 100,000-barrel per day (bpd) refinery is about $1.5 billion or more, while a 24,000 bpd modular refinery is roughly $250 million.
What is a modular refinery?
Modular refineries are crude oil processing facilities with capacities of up to 30,000 b/d, and are being built as part of plans to curb oil theft and promote peace in the country’s main oil-producing region.
Does Imo State have crude oil?
The state economy is highly dependent on agricultural production, especially the production of palm oil, which a majority of citizens rely on for cooking. A key minor industry is the extraction of crude oil and natural gas, especially in Imo’s north and west.
Is there any refinery in Imo State?
The refinery has an initial capacity for 5,000 barrels per day (bpd) of crude oil which will come up to 50,000 bpd when the phase two of the project with a capacity for 45,000 barrels bpd is completed and made operational.
How much does Dangote refinery cost?
The refinery, being built at a cost of $19 billion in Lagos, has 4.74 billion litres storage capacity, Edwin said.
Do refineries make money?
Refineries make money by way of the crack spread; as noted earlier, it’s the difference between how much they pay to buy raw crude oil and how much they make when selling the finished refined petroleum products. This spread fluctuates with the price of oil and with demand for refined products.
How many years does it take to build a refinery?
Construction timelines for a modular refinery can range from 15 to 18 months from the start of a project to the first barrel of oil processed.
How do I start my own oil refinery business?
Some of the steps to be followed to start an oil mill business in India are mentioned below:
- Analyze the Market.
- Creating Business Project Report.
- Arrange the Finance.
- Choosing Location.
- Decide Oil Production Process.
- Getting Oil Mill processing machinery.
- Install machinery and establish Oil Mill Plant.
- Finding raw Material.
Which town is the richest in Imo State?
Owerri is the largest and as well the richest town in Imo state. Owerri Municipal, Owerri North, and Owerri West are the three Local Government Areas that make up the city.
Which community has the highest oil well in Nigeria?
Uzere formerly known as “Uzei” is located in the Isoko South Local Government Area (LGA) of Delta State of Nigeria. It has become one of the largest petroleum oil producing communities in Nigeria.