Tag Archives: Refineries

In 19 straight months of not processing any barrel of crude oil, the government-owned refineries in Nigeria recorded a total loss of N177.21bn, the latest data from the Nigerian National Petroleum Corporation have shown. An analysis of data collated from NNPC’s monthly reports revealed that all the refineries did not refine crude oil from July 2019 to January 2021. The ...

The Federal Government through the Nigerian National Petroleum Corporation (NNPC) has said that Nigeria doesn’t have the financial capability to build new refineries. The declaration was made by NNPC Group Managing Mele Kyari, NNPC, citing the economic situation of the country. The GMD was speaking to journalists as regards the backlash that emanated  by the proposed rehabilitation of the Port ...

The House of Representatives Ad-Hoc Committee investigating the state of the nation’s refineries has directed the Nigerian National Petroleum Corporation to halt the 1.8 billion dollars contract for the Turn Around Maintenance (TAM) at the facilities. Addressing a media conference in the national assembly, the Chairman of the committee, Garba Mohammed, said the House had mandated the committee to ascertain ...

FThe Minister of State for Petroleum Resources, Ibe Kachikwu, has said that the Federal Government would disclose the private investors in the refineries in March. Making this intimation during the ongoing Nigerian International Petroleum Summit (NIPS), Kachikwu said the government was also considering a policy that would compel multinational oil and gas firms operating in the company to build refineries ...

The Speaker of the House of Representatives, Yakubu Dogara, has said local refining of crude is the only way to make fuel available and easily accessible to all Nigerians. He said every other measure to put an end to the recurring problem of fuel scarcity will only work temporarily. Dogara made this known, on Tuesday, when he received the executive ...

Agreements on the potential investors for the Warri Refining and Petrochemical Company Limited, Port Harcourt Refining Company Limited and the Kaduna Refining and Petrochemical Company limited are being fine-tuned, the Group Managing Director of the Nigerian National Petroleum Corporation ( NNPC), Maikanti Baru, has said. He disclosed this on Tuesday at a town hall meeting with staff of the corporation ...

Knocks await the Nigerian National Petroleum Corporation (NNPC) on Tuesday, next week, when the House of Representatives reconvenes. The Maikanti Baru-led agency will be pummelled for illegally subsidising the pump price of fuel at billions of naira.  Speaker Yakubu Dogara has reportedly been briefed already about the decisive session. “Definitely, the House would bring it up and I am sure ...

The Federal Government says its planning to resuscitate refineries in the country and return them to a fully functional condition by 2019. Minister of State for Petroleum Resources, Ibe Kachikwu, said this on Wednesday in Abuja shortly after the Federal Executive Meeting. According to him, apart from giving the kiss of life to the plants, the government also targets three ...