FG approves 13 modular refineries – Baru

chika ebuzor

May 4, 2018 11:13 PM

Baru disclosed this in the United States during the Offshore Technology Conference 2018 Nigeria Oil Industry Award Dinner.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru has revealed that the Federal Government has given the go ahead to 13 firms to set up modular refineries.

According to NNPC’s DG, the approved companies were picked out of 35 firms.

Premium Times reports that the NNPC DG, who was the guest of honour at the event, also won an award.

Baru revealed that the NNPC and the Ministry of Petroleum Resources will create jobs in the Niger Delta through the establishment of the modular refineries.

He said that “the dream of transforming Nigeria from a net exporter of crude oil to a net exporter of petroleum products would in the months ahead transform into a reality”

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“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 added.

Baru also said that efforts are ongoing to refurbish the refineries across the country.

chika ebuzor