ASEAN needs US$29.4 trillion in funding until 2050 to implement the energy transition, as projected by the International Renewable Energy Agency (IRENA), .
Nigeria started the business of oil refining with a simple hydro-skimming plant of 38,000 barrels per day (bpd) refinery built by Shell-BP, at Eleme, near Port Harcourt, in Rivers State in 1965. The plant was then wholly owned and operated by Shell-BP.