NNPC Plans to Build New Refineries

NNPCThe Nigerian National Petroleum Corporation (NNPC) Tower
  • NNPC Plans to Build New Refineries

The Nigerian National Petroleum Corporation (NNPC) has said it is planning on building two new refineries to augment Nigeria’s current capacity.

According to Mele Kyari, the Managing Director, NNPC, said the two new 200,000 barrels per day condensate refineries would help transform the country into a net exporter of petroleum products.

He stated that the exportation of petroleum products from the condensate refineries together with the 445,000 barrels per day capacity of existing refineries being refurbished and Dangote’s refinery 650,000bpd capacity would guarantee energy security for Nigeria.

Kyari said: “Our objective is to make Nigeria a net exporter of petroleum products and you can only achieve that by complementing each other, both the public and the private sector.

“We are going to do more and we actually need more of these private sector refineries for Nigeria to become a net exporter of gasoline (petrol) and other associated products.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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