The Department of Petroleum Resources has revealed that BUA group received a license renewal with 27 other investors. The agency had posted the names of the companies on its website.
The license had become invalid three years ago. The renewal will pitch the company against its market rival, Dangote Group, already figthing over market shares in the cement and sugar business in Nigeria.
The agency gave License to Establish to BUA Refinery & Petrochemicals, Lowrie Refinery Limited, Eghudu Refinery and Kingdom Global Trading Petroleum & Gas Nig., NPDC/ND WESTERN OML 34 JV, Ogini Refinery, Excel Exploration & Production and Ogini Refinery Limited.
While Dangote Oil Refinery Company received license of Approval to Construct/Relocate. Others on this list includes OPAC Refineries, Waltersmith Refining & Petrochemical Company, Niger Delta Petroleum Resources, Edo Petrochemical Refinery.
Etopo Energy Plc, Resource Petroleum & Petrochemicals International Incorporated, Duport Midstream and Conodit Refinery Nigeria were also listed.
Others with active licences are Lowrie Refinery, Excel Refinery, Gasoline Associates International, Frao Oil Nigeria, Alexis Refinery, Allegiance Energy and Power, Atlantic International Refineries and Petrochemical.
Amakpe International Refinery Inc, Gazingstock Petroleum Company, Azikel Petroleum, and Clairgold Oil & Gas Engineering.