Winfield gets licence for oil refinery in Mauritania
2008-02-15 20:32 ET - News Release
Mr. Robert Foley reports
WINFIELD RECEIVES CONDITIONAL LICENSE TO CONSTRUCT AND OPERATE AN OIL REFINERY IN MAURITANIA
Winfield Resources Ltd. has received a licence to refine oil from the Islamic Republic of Mauritania -- Ministry of Water, Energy, Information Technology and Communications. This licence is a result of Winfield's application for its own account to build, own and operate a new 300,000-barrel-per-day oil refinery at the Port of Nouakchott, Mauritania, and the company's meeting with Mauritanian authorities, Feb. 2 to 7, 2008, as previously reported in Stockwatch on Jan. 25, 2008.
The licence is subject to a number of conditions, including:
- Giving priority to acquiring feedstock from sources within Mauritania;
- Abiding by all applicable environmental laws;
- Giving priority to selling refined petroleum products to consumers in Mauritania;
- Paying royalties in favour of the National Oil Commission.
