03 May 2017, Sweetcrude, Houston, Texas — Nigeria’s state own refineries, Port Harcourt Refining Company, PHRC, Warri Refining and Petrochemicals Company, WRPC, and Kaduna Refining and Petrochemicals Company, KRPC are expected to have new investors by September 2017.
This is was disclosed by the Minister of State of Petroleum Resources, Dr. Ibe Kachikwu at a world press conference on the sideline of the 2017 Offshore Technology Conference, OTC in Houston Texas.
The minister explained that the country now has a sizeable willing investment portfolio for the refineries noting that by September 2017, the investors will be made public.
“When we came onboard, the refineries were not working but as we speak, we have sizeable investment portfolio for them to an extent that we don’t know who to partner with for the investment.
“By September, we will unveil the investors for the refineries,” the Minister said.
The new investors are expected to repair, revamp and maintain the refineries according to the terms and conditions of the contract.
Kachikwu, however, noted that when completely repaired, the refineries will not satisfy the country’s consumption need.
Where the refineries fail to meet the country’s consumption need, Kachikwu said Dangote’s refinery and modular refineries will fill the gap.
The PHRC is 210,000 barrels per day complex conversion plant which can produce Liquefied Petroleum Gas, LPG, Premium Motor Spirit, PMS, Dual Purpose Koresene, DPK, Automative Gas Oil, AGO, Low Pour Fuel Oil, LPFO, and High Pour Fuel Oil, HPFO.
The Warri refinery is a 120,000 barrels per stream day plant capable of producing LPG, PMS, AGO, DPK, and Fuel Oil from a blend of Escravos and Ughelli crude oils.
Kaduna refinery is 110, 000 per day plant which produces LPG, PMS, House Good Koresene, HHK, Aviation Turbine Kerosene, ATK, AGO, And fuel oil.