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OLAX Engineering wins contract for refinery project

October 18/2021

MOSCOW (MRC) -- OLAX Engineering has been selected and awarded the Owners Engineers and Project Management Services (PMC) contract for the FEED of the BUA grassroots 200K bpd grassroots refinery and petrochemical complex to be located in Ibeno, Akwa Ibom State, Nigeria, said Hydrocarbonprocessing.

This multi-billion-dollar integrated project aims at producing Euro-V fuels - high-quality gasoline, diesel, jet fuel, LPG and polypropylene for the domestic and regional market. OLAX has deployed a complete project management team overseeing all contractors and licensors on the project, the FEED project execution is from UK and Nigerian offices.

Abdulsamad Rabiu, the founder and Chairman of BUA Group visited the Reading offices of OLAX Engineering in the United Kingdom to review project progress and said We are very happy with the outstanding work OLAX are doing, they have an excellent and well experienced team. I have full confidence that working with OLAX will help us achieve our project goals and objectives"

Dr. Jamal Akinade, CEO and Founder of OLAX Engineering said: This is a very exciting project for us, for BUA Group and for Nigeria, we are very proud to be part of this major project, and this is a testament to our ambitions as a growing company. We are grateful to the BUA group for trusting us with this hugely important role. We pride ourselves on technical integrity and being reliable partners and we shall adhere to these core values in delivering this project within schedule and budget". 

As MRC, ExxonMobil Synthetics (ExxonMobil) announced it is responding to customer needs and has confirmed plant feasibility to significantly increasing high viscosity metallocene polyalphaolefin (High Viscosity mPAO) synthetic base stock production.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, neftegaz, petrochemistry, Exxon Mobil, OLAX Engineering.
Category:General News
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