NNPCL Seeks Technical Equity Partners To Revive Refineries

Nigerian National Petroleum Company (NNPC) Limited is seeking technical equity partners to help revive three of its refineries, which have not been producing refined petroleum products, despite huge investments by the Federal Government on rehabilitation of the facilities in Warri, Port Harcourt and Kaduna 

Group Chief Executive Officer (GCEO) of the Nigeria's oil company, Bayo Ojulari who revealed this in a post on X handle on Thursday, explained that the move was to ensure the refineries operate effectively.

The refineries, with a combined capacity of 445,000 barrels per day, alongside the Dangote Petroleum Refinery, could help Nigeria end its reliance on imported fuel and become a net exporter of the product 

“We are looking ahead with optimism to ensure our refineries operate effectively. We are dedicating significant time to a detailed review and are eager to implement our insights.”

The development followed previous investments to revive the moribund refineries.

It will be recalled that the former NNPC head Mele Kyari had secured external partnerships worth $2.5 billion in contracts to rehabilitate the refineries.