NNPC seeks Russian firms’ partnership to revamp oil refineries
As the timeline to revamp Nigeria’s four oil refineries in 2023 edges closer, the Nigerian National Petroleum Corporation (NNPC) has met with some Russian firms, which includes a state owned company and private entities to help bring the refineries back to life.
The Details: This was publicly announced by the NNPC’s Group Managing Director, Mele Kyari, who tweeted about the development from the ongoing Russian African Economic Summit that in Sochi, Russia. He added that he had been discussing the issue as well as the development of gas infrastructure in Nigeria with Russian investors.
A team of top Government officials are involved in engaging investors at the summit. The officials include the Minister of State for Petroleum Resources, Timipre Sylva; the NNPC’s Chief Financial Officer, Umar Ajiya; the NNPC’s Chief Operating Officer, Refineries, Mustapha Yakubu, among others
According to Kyari, the engagement was to make sure that Nigeria’s moribund refineries get the right attention while also developing infrastructure for gas.
“The team engaged Russian state company and private entities to secure development cooperation of mutual benefit,” Kyari retweeted.
He added, “Refinery rehabilitation and gas infrastructure development on the front burner.”
Recall that the Federal Government set a 3-year target period to revamp the ailing refineries across the country.
Starting with the refinery in Port Harcourt, the President Muhammadu Buhari-led administration disclosed that it had begun the overhauling of refinery facilities, adding that it has till 2023 to ensure that the refineries operate optimally.
Similarly, the Nigerian National Petroleum Corporation (NNPC) promised Nigerians that the full rehabilitation of the nation’s three refineries would commence by January 2020.
Malam Mele Kyari explained that fixing the refineries, which are in Port Harcourt, Warri and Kaduna, would help the corporation to refine crude oil at optimum capacity by 2022. He also noted that it was a mandate the NNPC as a corporation would leave no stone unturned to actualize because of its timeliness.
SOURCE: PUNCH
