$7.5bn refinery for Cross River

A Chinese firm, Sino Arab Energy, SAE, in partnership with a local firm, Osabo Refining and Petrochemical Industry Limited, have concluded plans to build a refinery in Akabuyo, Local Government Area of Cross River State.

Agreement s for the construction of the refinery which is expected to refine 107,000 barrel of crude per day have been signed by the partnering firms, and is valued at about $7.5billion.

Speaking on the project, Hon Etim Effiong Okon, who is a member of the management team of Osabo Refining, said the process for the procurement of requisite licenses to establish and operate the refinery had fully commenced, while Akwa Esuk Eyamba, the community where the refinery will be located had donated 500 hectares of land for the refinery.

The refinery is expected to be completed within five years, with the first phase slated to commence in 2014, while the feedstock for the refinery would come from the several Niger Delta basin oil wells.

76 Oil Wells: A’Ibom to Renegotiate with C’River

Akwa Ibom State Governor Godswill Akpabio says his state is willing to dialogue with Cross River over the disputed 76 oil wells, which the Supreme Court awarded to Akwa Ibom in a July 10 ruling. Akpabio said this saturday in Uyo during the state’s monthly prayer meeting held at John’s Chaplaincy, in the Governor’s Lodge.

The oil wells had been the subject of a fierce political dispute between the two sister states, which shifted to the court when Cross River went to the Supreme Court to claim ownership of the wells. It joined the federal government as a defendant in the suit, which, among other prayers, sought to compel the federal government and Akwa Ibom State to pay N15.5 billion to Cross River State as 13 per cent derivation from November 2009 to March 2010.

But the apex court ruled by a unanimous decision that the 76 oil wells belonged to Akwa Ibom State. The court also dismissed an application filed by Cross River State a few days to the judgement asking it to stay action on the judgement because Akwa Ibom had, allegedly, presented a doctored map of the Nigeria-Cameroon boundary as part of the documents it submitted to the court. But Akpabio said, “Akwa Ibom is extending a further hand of fellowship that despite the Supreme Court judgement, Akwa Ibom is ready to enter into dialogue with Cross River State to end the issue of the 76 oil wells.”

http://www.thisdaylive.com/articles/76-oil-wells-a-ibom-to-renegotiate-with-c-river/122726/ 

Oil Wells: Cross River turns down N250m monthly largesse from Akwa Ibom

The Cross River state government has rejected the N250 million monthly payments from akwa Ibom state saying that it was a degrading offer which portrayed the leadership of Cross River as opportunistic and irresponsible. This was made public by the Cross River state Attorney-General and Commissioner for Justice Mr Attah Ochinke at a press conference. Ochinke said it was not correct to say that Cross River rejected overtures for amicable settlement with Akwa Ibom rather the Cross River government went to court to enforce the settlement that had already been reached.

According to him, "The matter had been settled and agreement written and it was implemented for three years, so what has happened for the parties to now withdraw from that agreement?
The government of Akwa Ibom said they offered us when the matter was in court, N250 million a month as a peaceful settlement on the matter. I do not know when the matter will be settled but I am very certain of one thing, if we do not recover the territory it is not because it does not belong to us, but because we are unable to recover the territory”.

It would be recalled that the Supreme Court had in recent judgement ceded 76 oil wells which Cross River laid claims to Akwa Ibom. In the aftermath of the judgment, Gov. Godswill Akpabio of Akwa Ibom had offered to pay Cross River N250 million as grant to cushion the pains of the loss.