With Agency Reports
13 March 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, Tuesday, said the revamp of the country’s refineries would commence in the second quarter of 2018.
Speaking at the African Refiners Association’s conference in Cape Town, Chief Operating Officer of Refineries and Petrochemicals of the NNPC, Mr. Anibor Kragha, stated that the NNPC was in the final stages of talks with consortiums including top traders, energy majors, and oil services companies to rehabilitate the refineries so as to cut down drastically on fuel importation.
He said, “We believe that by the second quarter of this year we will start getting the ball rolling on the refurbishment and rehabilitation exercise and believe this will run to the end of next year.
“We are working with consortia right now, negotiating terms, trying to finalise the time sheets so that we can access the money through the end of 2019 when we believe we will have the minimum 90 percent capacity utilization in place.”