Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Senate seeks clarification on status of modular refineries

    Senate seeks clarification on status of modular refineries

    July 23, 2019
    Share
    Facebook Twitter LinkedIn WhatsApp

    Senate seeks clarification on status of modular refineriesAbuja — The Senate says it will invite the Ministry of Petroleum Resources and Nigerian National Petroleum Corporation (NNPC) to explain the status of refineries, including the new modular refineries, across the country.

    The decision followed a motion on Tuesday entitled “Existing Petroleum Subsidy: Ensuring Self -Sufficiency in Domestic Refining of Petroleum Products’’, by Sen. Rose Oko (PDP – Cross River).

    The Senate, in a voice vote, urged the Senate Committee on Petroleum Resources (Downstream and Upstream) when constituted, to report back to the Senate in that regard.

    Speaking on the motion at the plenary, Oko said that although Nigeria produced 1.7 million barrels of crude oil per day, refineries’ performance was insignificant.

    According to her, Nigeria imports more than 90 per cent of its fuel, negating much of the benefits accruing to oil producing nations from high crude prices.

    She said that in spite of resources expended on Turn Around Maintenance of the refineries, none of the them could perform optimally.

    She said that data from the Department of Petroleum Resources website indicated that a total of 633,000 barrels per day refining capacity had already been lost due to the expiration of licenses of both conventional and modular refinery projects.

    Also Read: Boris Johnson emerges new UK PM

    Oko also expressed concern that more than 160 million dollars was spent on subsidy in early 2017.

    She said that the government introduced petroleum subsidy in the 1980s as a measure to strengthen local refining industry and improve product affordability and domestic consumption.

    The senator added that successive administrations had, however, failed to make Nigeria self-sufficient in domestic production.

    Oko said that there was no form of technical and financial aid for refinery license holders to ensure the refineries become operational.

    No few than 42 senators supported the motion, including Sen. Barau Jibril, Sen. Thompson Sekibo, Sen, Ifeanyi Uba and Sen. Ali Ndume.

    In his remark, President of the Senate, Dr Ahmad Lawan, said that the motion was aimed at ensuring that the 43 licensed modular refineries became operational.

    He also observed that the Petroleum Industry Bill was also key to the optimal utilisation of the refineries and emergence of the modular refineries.

    • NAN

    Related News

    Russian energy, transport, finance companies among privatisation candidates, says finance ministry

    Kazakhstan’s oil and condensate daily output set to rise by 6% in June, ministry says

    Italy’s Eni eyes new unit to manage oil refineries, unions say

    E-book
    Resilience Exhibition

    Latest News

    Russian energy, transport, finance companies among privatisation candidates, says finance ministry

    June 21, 2025

    Kazakhstan’s oil and condensate daily output set to rise by 6% in June, ministry says

    June 21, 2025

    Italy’s Eni eyes new unit to manage oil refineries, unions say

    June 21, 2025

    Libya objects to Greek tender for hydrocarbon exploration off Crete

    June 21, 2025

    Russia’s Rosatom to explore construction of high-capacity nuclear plant in Uzbekistan

    June 21, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.