October 7, 2020 (JUBA) – Trinity Energy, a South Sudanese oil marketing firm on Wednesday announced plans to construct a $500 million crude oil refinery in the Paloch oil fields of Upper Nile State.
- The refinery, an official said, will provide the region with refined oil.
“The idea is to build a scalable refinery that will eventually reach the size of 40,000 barrels per day. That is our plan,” Robert Eric Mdeza, the Chief Executive Officer (CEO) of Trinity Energy said on Monday.
He further revealed that the firm, which controls about 40 percent of the country’s oil market, also plans to build a 50 million liter storage capacity of refined products along Juba-Bahr-el-Ghazal highway.
“We will refine it right near the sources and find the market. One market is obvious is South Sudan, next door is Ethiopia, Sudan and the surrounding countries are the potential market,” stressed Mdeza.
According to the official, the marketing firm would seek ways to partner with banks to finance the construction of the refinery project.
Oil production is crucial for South Sudan to recover from years of civil war that devastated the economy. While the nation is estimated to have the third-biggest reserves of the commodity in sub-Saharan Africa, production of about 170,000 barrels a day is less than half the output before fighting broke out in December 2013.
(ST)
Leave a Reply