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Sahara Petroleum Exploration contracts to build oil refinery

Posted by by: OilOnline on 2005/07/14 | Views: 1289 |

Sahara Petroleum Exploration contracts to build oil refinery


Sahara Petroleum Exploration Corp., a subsidiary of Global Environmental Energy Corp., has contracted to build a 70,000 barrel per day oil refinery at Eket, Akwa Ibom state, Nigeria

Sahara Petroleum Exploration Corp., a subsidiary of Global Environmental Energy Corp., has contracted to build a 70,000 barrel per day oil refinery at Eket, Akwa Ibom state, Nigeria

The approximately USD$4 billion Sahara project, which is to be partially financed from the proceeds of Sahara's loan commitment from financier Diamond Ridge, will further enhance Sahara's position as a vertically integrated oil and gas company. On March 9, 2005, Sahara signed an Alliance Agreement with Quickflow, S.A., for the development of specific oil and gas rights in Africa. The new Sahara refinery will refine 25 million barrels of Nigerian oil in Nigeria per year, representing a cashflow at today's market process of approximately USD$1.5 billion per annum. It is Sahara's intention to refine a large portion of its own oil at the new Nigerian refinery.

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Comments (23)

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emilia(Lagos, Lagos, Nigeria)says...

Wow,trying to get across to Ekene jnr he happens to be my old friend,lost his contact.any info would do me good

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Valarie(Nairobi, Kenya)says...

What’s your point?

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robloxian(Bangor, Maine, US)says...

hahahaha u r a wierdo…hehehe

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ur so boring(To, Northern Territory, Australia)says...

have u ever thought the garbage or the toilet might be jealous? Ur so full of shiz- white piece of shiz BET lol. That's where ppl like you belong (toilet garbage etc), ik the truth hurts but dont take it as an insult im just trying to describe you; ik im good at it ty-The truth hurts right. JSYK black ppl aren't nerds were just smarter than you oops Btw BLMM!!!

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robloxian(Bangor, Maine, US)says...

wow so bad.

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robloxiansays...

U r weird gus

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yawning(On, Northern Territory, Australia)says...

Hmmm define weird plz