Nigeria’s state-owned oil company, NNPC Ltd, is engaging technical and equity partners to restart three of its refineries that have remained idle despite major investments, according to its chief executive.
With a combined capacity of 445,000 barrels per day, the refineries, along with the Dangote Refinery, could help Nigeria reduce fuel imports and become a net exporter.
NNPC CEO Bayo Ojulari said on X that the company is focused on ensuring the refineries run efficiently, adding that a detailed review is underway and implementation will follow soon.
Former NNPC head Mele Kyari also pursued external collaborations after securing $2.5 billion in refinery rehabilitation contracts.
The refineries, however, remain inactive as the government struggles to offload non-performing assets.
source: www.reuters.com
African Energy Council