Two Nigeria’s Refineries To Restart Production Before End Of December 2015 – Ibe Kachikwu

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Two Nigeria’s Refineries To Restart Production Before End Of December 2015 – Ibe Kachikwu

Minister of State for Petroleum Resources, Ibe Kachikwu on Wednesday assures that two out of Nigeria’s four refineries will restart production in the next two weeks.

Speaking to some members of the National Assembly on Wednesday in Abuja, the minister expressed confidence that two of the refineries would be re-streamed for production before the end of the month.

He made the statement during a presentation tagged, ‘The Roadmap for Nigeria’s Oil and Gas Sector,’ said the average national oil production capacity as at July 2015 stood at about 2.1 million barrels per day, with the Nigerian Petroleum Development Company (NPDC) equity production at about 99,000 bpd.
“Available reports before me indicate that two of the refineries may be re-streamed before the end of December, 2015,” Mr. Kachikwu said.

To ensure that a permanent solution was found to the perennial fuel scarcity problem the country has been facing, Mr. Kachikwu said efforts were on to engage private investors to build new refineries.
The new refineries would be located within the premises of the existing ones to enable benefit from the economy of scale, by sharing some operational facilities, such as power, pipelines and other resources.