Petrolex to Invest $5 Billion into 250,000 BPD Refinery in Nigeria

allAfrica, December 7, 2017

Petrolex, a Nigerian energy company with operations across the O&G value chain, is reportedly planning to build a new 250,000 barrel refinery at the company's Mega Energy Complex in the Ibafon area of Ogun State. The Chairman of the company, Mr. Segun Adebutu said the proposed refinery would cost $3.5 billion, while the supporting structures would gulp $1.5 billion, including the $8.5 million lube plants. Adebutu said over the next 10-15 years, his company would invest between $5 billion and $6 billion in the downstream and midstream sectors.

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