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FG signs Brass Petroleum Products Terminal agreement to tackle illegal refining

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FG signs Brass Petroleum Products Terminal agreement to tackle illegal refining

By Edith Ike-Eboh The federal government has signed a shareholders agreement for the construction of Brass Petroleum Products Terminal Ltd (BPPT) in order to combat illegal refining and stabilize the price of products in the Niger Delta. Chief Timipre Sylva, Minister of State for Petroleum Resources, at the signing ceremony on Friday in Abuja, said the project would help clean up the system in the region. Corporation (NNPC), Nigeria Content Development and Monitoring Board (NCDMB) and ZED Energy Ltd. The BPPT, when completed, will help close the infrastructure gap in the distribution of petroleum products and end the illegal refining activities taking place in parts of the Niger Delta. . The terminal will also serve as a strategic reserve for the country and is expected to provide a depot for a 50 million liter facility, a two-way product jetty, automated storage and an automated bay for AGO, PMS, DPK and ATK. “Today is my happiest day as Minister due to the success of the Nigeria International Oil Summit and what is happening now is an indication that we are driving our aspiration. “This agreement gave Mr. President such a high score because no one has had more impact on the oil sector than him. “In addition to approving this agreement, the president also approved the construction of the Oloibiri museum, which is moving at high speed. The construction of this depot in the Niger Delta is an important step because the inhabitants of the riparian areas buy petroleum products five times more expensive. other people buy it, ”Sylva said. He noted that floating stations were built to serve riparian areas, but depots or terminals to serve them have never been built over the years. “This project will alleviate the problems of the Niger Delta and reduce illegal refining caused by lack of access to the product. “With what happens, we will have products at the same rate as anywhere,” he added. Sylva praised the efforts of President Muhammadu Buhari to ensure development in the Niger Delta with the approval to build the terminal, the brass fertilizer plant and the Gas Top company, among others. In his remarks, NNPC group chief executive Mele Kyari said the company was happy the project was finally accepted. “It should have happened 30 years ago, but we are proud that it is finally happening. “We will deliver the project, the construction of the jetty and the depot does not take too long. “We will be held accountable by the minister and all stakeholders, so we will put pressure to make sure it is delivered,” Kyari said. In addition, the Executive Secretary of NCDMB, Mr. Simbi Wabote, commended the National Oil Investment Management Services for the inter-ministerial collaboration to reach the stage of signing the agreement. Wabote said the team had done an impressive job and urged all stakeholders to keep up the pace until the project is delivered. “The board members will continue to help drive this project, we will demand performance and accountability,” he said. Wabote said the project was to create jobs and help stop illegal refining in the region. He urged all partners to ensure that the project is delivered on time. In addition, the Managing Director of ZED Energy Ltd., Mr. John Dankori, thanked the Federal Government for giving him the opportunity to be part of the project. Represented by Mr. Onesi Obende, he assured stakeholders that his company will do whatever is required by them to ensure that the project is delivered on time. Earlier in his presentation, NAPIMS Managing Director Mr. Bala Wunti said 40 percent of onshore oil is produced from Bayelsa. Wunti said NAPIMS was happy to be a part of the project and had done everything in their power to get to this point. He said the cost estimate for the depot was N10. 5 billion and would come from partners. He noted that the project which is expected to be delivered by 2023 would bring many benefits to the region. He said the depot when completed would be unique as it would have dual services for loading land and sea trucks. “This is something great, we are honored to have been chosen as the instrument to implement this project”, he said (NAN)

(NAN)

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