Reaves Refinery

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20,000BPD Reaves Crude Oil Refinery to be located at Badagry in Lagos State of Nigeria

Executive Summary:

Reaves Industries Limited (RIL) is working towards the development of a 20,000 Barrels Per Day (BPD) Reaves Crude Oil Refinery to be located on a 150 Acre Project Site by Folawiyo Energy drilling platform in Badagry, Lagos State of Nigeria.

The Company is in the process of compiling all required Documents, including Front End Engineering Design (FEED), and working towards securing Funding Support to submit the complete package to the Nigerian Department of Petroleum Resources (DPR) for approval and issuance of Refinery Construction License.

The Reaves Refinery Project will process 20,000BPD of Bonny Light Crude Oil with 35.8 API°Gravity as feedstock to produce 3,960BPD of Unleaded Gasoline/PMS, 9,800BPD of Diesel/AGO, 5,600 BPD of Resdiuum, 180BPD of LPG and 480BPD of Fuel Gas to be partially utilized as Fuel for internal power requirements and Loss.  The Residuum products can be utilized as feedstock to power up to a 900MW capacity Fuel Oil Independent Power Project (IPP) as a large scale Power Project that can also be set up in conjunction with the Refinery Project.

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