Equatorial Guinea Pushes Ahead With Building Of Oil Refinery for Local Supply
September 22 2020 - 4:16AM
Dow Jones News
By Emmanuel Tumanjong
The government of Equatorial Guinea has said a new oil refinery
expected to be built in the months ahead will cost between $55
million and $76 million.
The modular refinery, to be operated by U.S. energy company
Marathon Petroleum, will have a capacity of between 5,000 and
10,000 barrels daily and will drill its crude from the Alba and
Alen wells.
It will enable the Central African nation to produce oil for
local consumption and help it cut imports of refined oil and halt
shortage of refined hydrocarbons products.
Minister for Mines and Hydrocarbons Gabriel Mbaga Obiang Lima
said the investment will start in the first quarter of 2021.
The push for the building of the refinery comes after a study
into the feasibility of the project was completed in June by
V-Fuels Oil and Gas Engineering.
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
September 22, 2020 04:01 ET (08:01 GMT)
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