He stated that so far, no financier had been selected for the refineries as planned, adding that what had happened was that advertisements were placed in some national and international newspapers in April last year seeking financiers to fund, rehabilitate and jointly operate the refineries.
Kragha said, “Because of what is happening and the global trend, President Muhammadu Buhari gave approval for strategic investments to be made in the refineries. So, the investment model is basically this way: strategic investors who can bring refining expertise and funding will partner local players with downstream experience to actually go into the refineries, invest money and within 24 months to get us to 90 per cent capacity utilisation.”
25 January 2017, Sokoto — The Independent Petroleum Marketers Association of Nigeria (IPMAN), Sokoto state branch has attributed the current…
This plea comes on the heels of reports that some motorists have begun panic buying of petrol, following rumours that the government is about to increase the pump price of the white product from N145 per litre.
15 January 2017, Abuja – The renewed search for crude oil in the frontier inland basins has started impacting the monthly trading…
While pledging its commitment to sustain the prevailing harmonious relations with industry unions, the NNPC urged Nigerians not to engage in panic buying as there is adequate supply of white products to meet their needs nationwide.
11 January 2017, Abuja – The Nigerian National Petroleum Corporation says its three refineries in Kaduna, Port Harcourt and Warri have…
Already, nine companies have submitted bids for co-location of new refineries within the complexes of Nigeria’s three existing refineries in Kaduna, Warri and Port Harcourt, which are expected to increase the nation’s refining capacity from 445,000 barrels per day (bpd) to 650,000bpd.
12 December 2o16, Abuja – Farmers in parts of Katsina State are predicting big fortunes should the Nigerian government go ahead…
The minister, according to the statement thanked the National Assembly for supporting the government’s introduction of the price modulation template in May 2016 which he added led to the disappearance of fuel queues in the country.
