Nigeria To Shutter Three Oil Refineries To Rehabilitate Output

14 Sep 2017   Nigeria

Wednesday . The Kaduna , Warri and Port Harcourt refineries will shutter to allow the national oil company to return refining capacity to their nameplate levels, NNPC managing director Dr. Maikanti Baru told reporters at the capital. “As you know, it is being the perception of the public that the repairs of the refineries are never done thoroughly. So this time, our intention is to shut down the refineries when we are ready, and then fully bring them back to what they should be as new refineries,” Baru said during the Nigerian Pipeline Security Conference going on in Abuja this week. Despite being Africa’s largest crude oil producer, Nigerian refining capacity is low, which has forced the government to spend foreign currency reserves on purchases of refined oil goods. Building new refineries within the country’s borders would allow Lagos to revitalize aging oil facilities while preserving foreign currency resources. […]

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