Seven Oceans is committed to provide clean, reliable and affordable energy by harnessing its expertise and innovative capabilities to address climate change;
We live in a world dependent on refined petroleum products and petrochemicals. From the cars we drive to the food on our plates, the products and material we derive are fundamental to many aspects of modern society. Plastic is the fastest growing group of bulk materials in the world, and synthetic nitrogen fertilizers underpin nearly half of the world’s food production;
Despite having a nameplate capacity of D445,000 bpd that should meet domestic demand, Nigeria still imports over 80% of refined products to meet its current needs. Unlike the production of crude, the production of refined products has been suboptimal, and Nigeria has consistently struggled to keep its refineries functioning optimally. The outlook for refining has been tainted with uncertainty due to the adverse effects of subsidies, poor maintenance, general operational failure and inconsistent supply of feedstock;
Seven Oceans activities and expertise in the refining and petrochemical space is centred around the development of its planned 20,000 bpd modular refinery in Brass Local Government of Nigeria, Gas processing facilities to meet domestic demand and Plastic Recycling facilities for the processing of post-consumer Polyethylene Terephthalate [PET];
Refining and Petrochemicals
Seven Oceans alternative future is one in which refined petroleum products, plastics and fertilizers are produced more sustainably.
As a case in point, Nigeria's per capita refining capacity is 0.002 bpd per capita, low even by Africa standards. Libya by comparison is 0.06 bpd per capita, and South Africa 0.01 bpd per capita. However, recent events such as advancement of the Nigerian National Petroleum Policy and the sustained depression in crude oil prices are ushering in fresh waves of optimism for the sector and we predict a paradigm shift from a “net imports” to “net exports” structure. This shift will see Nigeria become a net exporter of refined products and the refining hub of West Africa by the start of the next decade;