December 2018

Columns

Africa: Troubled Nigerian refineries hamper petrochemicals growth

Nigeria’s petroleum industry has had its fair share of upheavals, ranging from insecurity that hampers upstream operations to low global oil prices that constrain midstream and downstream investments.

Oirere, S., Contributing Editor

Nigeria’s petroleum industry has had its fair share of upheavals, ranging from insecurity that hampers upstream operations to low global oil prices that constrain midstream and downstream investments. Nonetheless, the country still retains its reputation as Africa’s second-largest holder of proven oil reserves and remains one of the most promising destinations for petrochemical investors. Even with an estimated 37 Bbbl of proven oil reserves and 180 Tft3 of proven natural gas reserves, Nigeria is still a net importer of petroleum products, including raw materials for the manufacture of finished petrochemical products like plastics and fertilizer. These products could be locally supplied, if

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