By IANS,
New Delhi: ONGC Videsh Ltd, the overseas arm of India’s state-run oil exploration major Oil and Natural Gas Corp (ONGC), is planning to set up a greenfield refinery in Nigeria.
“In efforts to broad-base our activities, ONGC Videsh is discussing setting up a greenfield refinery in Nigeria,” Petroleum and Natural Gas Minister Murli Deora said at the India-Africa Hydrocarbon Conference here Monday.
ONGC Videsh, along with Mittal Energy Ltd, is scheduled to build a downstream plant in Nigeria in return for two exploration blocks.
Nigeria’s Presidential Adviser on Energy Matters Emmanuel Egbogah, who were present at the conference, told reporters that there were time conditions in the deal which should be met.
“(Lakshmi) Mittal (promoter of Mittal Energy) is taking his own time,” Egbogah said.
Earlier in his address at the inaugural session of the conference, Egbogah had called for increased participation of Indian energy companies in Nigeria, especially in the downstream sector.
“It’s my desire to see more Indian companies to be dominant in the oil industry in my country. I am impressed by Indian downstream sectors like the refinery hub at Jamnagar,” he said.