NNPC Says It Is Committed To Ending Petrol Importation By 2019

PETAN Chairman, Mr. Bank-Anthony Okoroafor, presents the PETAN Award to Baru, for the promotion of the growth of Nigerian companies, at the 2018 OTC in Houston

The Nigerian National Petroleum Corporation (NNPC) has expressed commitment to actualize the December 2019 target set by the federal government to end the importation of petroleum products into the country.

Speaking at the recently concluded Offshore Technology Conference 2018 Nigeria Oil Industry Award Dinner in Houston, Texas, United States, Group Managing Director of the corporation, Dr. Maikanti Baru, said measures had been taken to achieve the target.

He explained that the ongoing arrangement with the original builders of the refineries to return them to at least 90 percent capacity utilization before the 2019 deadline was still intact.

He stated that tendering exercises for companies interested in the rehabilitation programmes of the nation’s four refineries using a contractor-financing model had  been completed, saying successful companies for the different projects would soon be announced.

“This model is expected to be a self-sustaining financial model with near zero reliance on the federal government funds. For smooth running and implementation, we are also changing the operating and commercial framework of the refineries to make them work efficiently and be commercially viable,’’ he said.

He added that the corporation and the Ministry of Petroleum Resources were also collaborating to encourage the establishment of modular refineries in the Niger Delta area to encourage job creation.

So far, about 35 expressions of interest for the establishment of modular refineries had been declared and the Department of Petroleum Resources (DPR) had issued licenses to 13 of them, Baru said.

Will private management of Nigeria's refineries be a success story?

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