Mr Segun Adebutu, Chairman of the company said this during a facility tour of the mega oil city in Ibefun, Ogun on Wednesday. An indigenous oil company, Petrolex Ltd., says it has set aside $6 billion to enable it make an impact in the downstream and upstream sectors of the Nigerian oil and gas sector.Mr Segun Adebutu, Chairman of the company said this during a facility tour of the mega oil city in Ibefun, Ogun on Wednesday.Adebutu, who spoke ahead of the inauguration of the company, noted that the amount would also make an impact in the power sector.He said that the facility would host 250,000 barrels per day capacity refinery, estimated to cost $3.5 billion, a lube plant the cost of which was $8.5 million.Adebutu also said that the company had a tank farm of over 300 million litres capacity to turnover 600,000 million litres monthly.According to him, the company has a gas processing plant to produce 50,000 Liquefied Petroleum Gas (LPG) cylinders.
