China to build oil refineries in Nigeria

Published:  07 July, 2010

China is to build three oil refineries in Nigeria to "establish its footprint firmly in Nigerian oil".

China is to build three oil refineries in various parts of Nigeria to expand its presence in Africa and "establish its footprint firmly in [the] Nigerian oil" market, according to the China State Construction Engineering Corporation (CSCEC).

The Nigerian National Petroleum Corporation (NNPC) says once the project has been completed, the three refineries will add 750,000 barrels/day to Nigeria's refining infrastructure, enabling the country to engage profitably in the international trading of refined petroleum.

This follows news from the Oil Firing Technical Association (OFTEC) that oil heating is "still the cheapest choice for off-gas main households".

According to independent figures, the cost of heating an average three-bedroom home with an oil-condensing boiler annually costs £996, which is 31% cheaper than an LPG condensing boiler, annually costing £1,454 to run.