Refineries Archives - Page 2 of 3

NNPCL seeks private operators for Warri, Kaduna refineries

August 31, 2024August 31, 2024 Aminu Imam

The Nigerian National Petroleum Company (NNPC) Limited has announced its intention to engage reputable and credible operations and maintenance (O&M) companies, to oversee the operations of the Warri Refining and Petrochemical Company (WRPC) and the Kaduna Refining and Petrochemical Company (KRPC). This was announced on the company�s official X handle, on Thursday. Commissioned in 1978, the Warri Refinery, located in Warri, Delta State, is a complex conversion refinery with a nameplate distillation capacity of 6,250,000 metric tonnes per annum (MTA), equivalent to 125,000 barrels per day, (bpd). The refinery complex…

�Fix Warri Refinery; stop deceiving Nigerians�, IPMAN to FG

December 11, 2023December 11, 2023 Aminu Imam

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has called on the Federal Government to fix Warri Refinery and stop deceiving Nigerians under the guise of Turn-Around Maintenance (TAM) while they are doing nothing. Chairman, Electoral Committee, Warri Depot and National Officer, IPMAN Mid-West zone, Chief Ben Odjugo, made this call in Warri, Delta State, during the Annual General Meeting (AGM) of IPMAN, Warri Depot, held at Government House, Annex, Warri. The Association also appealed to the Federal Government to make petroleum products available to Warri Depot, just as they…

Alarm, as�Nigeria�s refineries collapse by 92% – World Energy Report�

December 4, 2023December 4, 2023 Aminu Imam

The World Energy 2023 Report has unearthed a staggering decline of 92% in Nigeria�s crude oil refining output over the past ten years, raising concerns about the country�s energy sector. From a robust production level of 92,000 barrels per day (bpd) in 2012, the output plummeted drastically to a meagre 6,000 bpd in 2022, representing a significant drop in refining capacity. This data, detailed in the 72nd edition of the Energy Institute�s report, corroborates the findings in the Organisation of the Petroleum Exporting Countries� (OPEC) Annual Statistical Bulletin 2023. OPEC�s…

Saudi Arabia pledges to invest in Nigeria�s refineries, support CBN � FG

November 12, 2023November 12, 2023 Aminu Imam

The Federal Government has said that the Government of the Kingdom of Saudi Arabia has pledged to invest in revamping the country�s refineries to get them working and reforming the Central Bank of Nigeria, (CBN). According to a press statement by the Minister of Information and National Orientation, Mohammed Idris, on Friday, the pledges were made by the Saudi Crown Prince, Mohammed bin-Salman, at a bi-lateral meeting with President Bola Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh. The duo met on the sidelines of the Saudi-Africa Summit…

�We�ll hold NNPCL accountable for complete rehabilitation of all refineries by 2024″ – Lokpobiri

November 7, 2023November 7, 2023 Aminu Imam

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has declared that the federal government would hold the Nigerian National Petroleum Company Limited (NNPCL) accountable for the complete rehabilitation of all the nation�s refineries, as scheduled, by the end of 2024. Lokpobiri stated this at the weekend, while fielding questions from newsmen at the end of a three-day retreat for Ministers, Special Advisers and other presidential aides at the Conference Centre of the State House, Abuja. NNPCL has the responsibility of rehabilitating three refineries in the country to reduce fuel…

N10tr spent on maintenance: “Nigerians should demand sale of NNPC moribund idle refineries”� – Presidential Adviser

October 4, 2023October 4, 2023 Aminu Imam

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said that Nigerians should come together to demand that the nation�s refineries remain moribund. Speaking on Monday at an event: �The Platform�, organised by The Covenant Nation, Oyedele argued that the refineries should be sold. �Nigerians would say if only our refineries are working, then we�ll be fine. Nothing can be farther from the truth than that. In fact, Nigerians should come together and say please make sure that our refineries don�t work. We should sell…

�Nigerians want functional refineries as solution to economic woes� � Expert

August 3, 2023August 3, 2023 Aminu Imam

An economic expert, Yusha�u Aliyu, says that Nigerians are expecting functional refineries to cushion the effects of subsidy removal on Premium Motor Spirit (PMS) popularly known as fuel. Aliyu said this in an interview with newsmen in Abuja yesterday, in reaction to President Bola Tinubu�s live broadcast on Monday, on the country�s economic situation. Nigerians have been faced with hardship and sufferings occasioned by the removal of subsidy on PMS by the current administration, while the country�s refineries in Port Harcourt, Warri and Kaduna are yet to begin operation. Aliyu…

‘Petrol may sell above N400/litre even with Dangote, NNPC refineries’ – Report

September 8, 2022September 8, 2022 Aminu Imam

The market price for petrol would rise above N400 per litre even if the Dangote Refinery and those owned by the Nigerian National Petroleum Company Limited (NNPC) were to come on stream, an analysis of oil prices, import duties and refinery contracts has shown. According to the report, President Muhammadu Buhari�s administration�s strategy of kicking the can further down the road when it comes to developing a pragmatic approach to dealing with galloping fuel subsidy cost guarantees that it could surely haunt the new government coming in next year. The…

FG under fire over N136bn salaries on zero revenue, moribund refineries

September 6, 2022September 6, 2022 Aminu Imam

Stakeholders are questioning the rationale behind increasing budgetary allocations for the maintenance of the nation’s State-owned refineries, even as the plants generated zero revenue in the last three years on account of shutdown. A recent analysis of financials had revealed that the Federal Government spent a whopping N136 billion on salaries and other emoluments of workers at the three moribund refineries situated in Port-Harcourt, Warri and Kaduna in the last two years. Recall that the Nigerian National Petroleum Company Limited (NNPC) had shut down the 445,000-capacity refineries for over two…

SERAP sues FG for spending N1.48tr on non-functional refineries with no crude oil

May 16, 2022May 16, 2022 Aminu Imam

The Socio-Economic Rights and Accountability Project, (SERAP), has instituted a legal action against the Buhari-led administration over his refusal to investigate N1.48 trillion spent on refineries. The N1.48 trillion was reportedly spent on four refineries between 2015 and 2020. SERAP said despite the humongous amount claimed to have been amount spent on the refineries they are still moribund, alleging that the money earmarked for their rehabilitation and maintenance may have been pilfered. According to the body, the present government under Buhari reportedly spent N10.23 billion in June 2020 on three…