How much will it cost to build a modular refinery?
Specifically, how much does it cost to have a modular refinery? It depends on if you want to refine 1, 000, 2, 000, 3, 000 barrels per day. The more you want to refine at a given time the costlier the refinery will be. However, they range from $100m to $200m depending on the specification of what you need.
How long does it take to build a modular refinery?
Construction timelines for a modular refinery can range from 15 to 18 months from the start of a project to the first barrel of oil processed.
How much does a small refinery cost?
Finally, the North American Industry Classification Codes (NAICC) identifies the construction costs for small oil and gas structures at below $33.5 million. However, the smallest refinery currently under construction, a 20,000 b/d refinery in North Dakota, reportedly will cost $350 million.
What is the capacity of a modular refinery?
Modular Oil Refinery is applicable to processing capacity of crude oil from 1000bpd to 10000bpd.
Can modular refineries produce petrol?
The Nigerian market for petroleum products is about 50 percent of light to medium products such as petrol. Modular refineries are unable to produce light petroleum products in this category. They produce heavy petroleum products such as diesel and kerosene.
What does it cost to refine a barrel of oil?
Crude Oil Cost The cost to produce a barrel varies from about $20 per barrel in Saudi Arabia’s desserts to $90 per barrel for some deep-water wells. In the example below, the crude cost is $1.39 per gallon ($58.26 per barrel).
How much does a refinery cost?
Haas explained that when calculating the cost to build refineries, the industry’s jargon represents it as a cash amount per barrel of oil. “For many years, refinery cost to build was about US$10,000 to a barrel and then it changed and rose to about US$20,000 and about today it could be up to US$25,000”, he observed.
How expensive is a refinery?
Oil refining is a capital-intensive business. Planning, designing, permitting and building a new medium-sized refinery is a 5-7 year process with costs ranging from $7-10 billion, not including land acquisition.
How much does it cost to build a refinery in Nigeria?
Dangote Refinery Complex in Nigeria Set to Cost $19 Billion – Bloomberg.
How much does it cost to build a crude oil refinery?
Owing to the above factors, building a complex, hydro cracking, hydro skimming, catalytic cracking refinery, can cost anywhere around $5 to $15 billion. The throughput (processing capacity) of this refinery should be between 250 – 500,000 barrels per day.
How are modular refineries built in the world?
As the name implies, all equipment is constructed in modules that are designed to be transported quickly and easily anywhere in the world. Depending on the refining capacity, Modular Refineries can be designed and constructed with the major part of the work accomplished in our factory in a controlled atmosphere.
Is there a modular oil refinery in Nigeria?
In reality, the only existing modular or small-scale refinery in Nigeria is the 1,000BPSD plant owned by Niger Delta Petroleum Resources Company in Ogbelle. It is built right next to its crude oil production facility from which it receives its feedstock. The essential product is diesel oil.
Are there any oil refineries that are profitable?
Refineries have historically not been very profitable, as the industry has been plagued worldwide by historical low margins during the years of high crude oil prices in the neighbourhood of $100 per barrel. In that era, about 90 per cent of the operating cost in most refineries was simply cost of purchasing and delivering crude oil to the plant.