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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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Saudi Aramco/ Chinese firms to build 600,000 barrels refinery by 2026

One of the Aramco's facilities 


By Favour and Akinola Ajibade


Saudi Aramco have partnered  with two Chinese Companies to build a 600,000 barrels refinery capacity in China. 

The project, a major investment for Saudi Aramco, is expected to cost $10 billion and completed in the next three years. 

Billed to help refine more crudes and produce petrochemical products, the the idea is conceived  in order to take advantage of China's  growing demand for energy. 

Armaco said in a statement that the refinery will have a capacity of 300,000 barrels of crude daily and out of this, it will supply 201,000 barrels per day to the facility.

The project, the statement added,  will be carried out in partnership between Aramco and two Chinese companies. Construction works should begin in the second half of this year, with the project scheduled for completion in 2026. 

“This important project, the firm said, will support China’s growing demand across fuel and chemical products. It also represents a major milestone in our ongoing downstream expansion strategy in China and the wider region, which is an increasingly significant driver of global petrochemical demand,” said Aramco’s head of downstream, Mohammed Al Qahtani.

Recall that Aramco struck a deal with China’s Sinopec to build a 320,000-bpd refinery and petrochemical cracker in China, a development, which signifies the decision of China to play a major role in global oil consumption yet again. 

Coupled with this is the fact that Aramco is  seeking long-term demand for its main product, even as it expands local refining capacity as well. 

In a related development, the International Energy Agency and other forecasters, have a long term  bet on petrochemicals amid expectations of a decline in oil demand for transport fuels.




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