Amakpe International Refineries Nigeria Limited (Amakpe Refinery) was incorporated under the laws of Nigeria in July 2000, as a subsidiary of Amakpe International, Inc., USA.  Following the Privatization of the Oil and Gas Industries by the Government of Nigeria, the Company decided to invest in the establishment of a 12,000 BPD Crude Oil Refinery at Eket in Akwa Ibom State and engaged Financialbridge of Miami, Florida to package Funding for the development of the Refinery Project. 

The Nigerian Government through the Department of Petroleum Resources (DPR) issued Private Refinery Construction Licenses in October 2004 to 18 Companies for the establishment of various sized Crude Oil Refineries.   In March 2007, DPR cancelled all 18 Refinery Construction Licenses, requiring each beneficiary Company provide evidence of available Funding, complete Engineering Designs and Work Plans as well as payment of applicable Security Deposits and Revalidation Fees before re-issuance of any Refinery Construction License.

After satisfying the new DPR’s License revalidation requirements, Amakpe Refinery is the first Private Nigerian Company to receive a revalidated Construction License on June 11, 2007. 

In July 2007, Start-up Construction commenced at the Eket Project Site as well as the Fabrication Facilities of Ventech Engineers, the Refinery Plants and Equipment Manufacturer in Pasadena, Texas.  The Phase 1 – 6,000BPD Amakpe Refinery is slated to commence production by October 2008.