According to IPMAN National President, Elder Chinedu
Okoronkwo, this move is intended to bridge existing gaps while also expected to
ameliorate effects of shortage of supply of kerosene in the country which and
the impact is already hurting most households, couple with the continuous rise
in the prices of Liquefied Petroleum Gas (LPG), Cooking Gas.
The decision which was announced on Monday, November 15,
2021, and expected to come into effect immediately is one of the many ways
IPMAN intends to provide a workable solution to the scarcity and price
volatility of Kerosene across Nigeria, IPMAN National President noted.
OPAC refineries had in August this year completed the first
phase of its production and refining process and the production of the first
set of refined products in its refinery in Kwale, Delta state after four years
of continuous development of its refining capacity.
OPAC Refineries which is a leading indigenous refining
company noted that it had completed the first production process which was able
to produce Diesel – AGO, Kerosene – DPK, Fuel Oil-FO, and Naphtha – source for
Premium Motor Spirit (PMS).
Following the successful test run of OPAC Refineries, this
newly concluded agreement is expected to provide a good volume of kerosene into
the supply value chain to bridge the demand crisis nearing its peak. This will
also serve to cushion the effects of pre- Christmas season hike in demand and
increase in prices of most commodities.
OPAC Refineries is imbued with the capacity to produce
multiple primary products such as Diesel or Automotive Gas Oil (AGO), Kerosene
(DPK), Light Fuel Oil (LFO), and Naphtha – source for Premium Motor Spirit
(PMS). Being the first-of-its-kind modular refinery located in Umuseti, Kwale
in Delta State, Nigeria, OPAC Refineries is equipped with a processing capacity
of 10,000 barrels of crude oil per day, with plans of expansions and spread to
different regions.
As an indigenous company, OPAC Refineries is reckoned as one
of the most promising local oil & gas production infrastructure and top
amongst the first indigenous modular refineries to significantly provide
locally refined products at affordable cost.
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