Seplat eyes Warri refinery

0
1373

 

By Chioma Obinagwam

Seplat Petroleum Development Company has said it would be considering Warri refinery as an investment option in the foreseeable future.

The Chief Executive Officer of Seplat Petroleum Development Company Plc Austin Avuru said the interest may be stimulated if there is any process by the federal government that invites the private sector to participate.

Speaking during an interactive session with the press on the event of the company’s facts behind the figures presentation at the Nigerian Stock Exchange,  recently said that the proximity of their production base which is not far from the refinery, that enables them to supply crude oil to the refinery is a motivational factor.

“Because of the location that we are operating, we are attached to Warri refinery. We would show interest should government decide to consider private sector,” Avuru said.

ALSO SEE: No plans to sell refineries — NNPC

He noted that the major challenge encountered by the company is the menace of insecurity, particularly in that Seplat has remained relentless in dealing with redundancy infrastructure.

“The problem that bothers on Niger-delta is insecurity. We’ve built both a balance sheet and execution strategy that would make us relevant and stay in business. What worries us is what we don’t have control over- insecurity,” he said.

“There’s a portion of our export pipeline that is a national interest. 26km from the terminal itself to where you into the ship was vandalised. There has been concerted efforts by the government. We are bent over to doing our best to dealing with redundancy infrastructure.

He also said that the acquisition of the Warri refinery would further limit redundancy infrastructure in its operations.

“That is our planning to erase, limit redundancy infrastructure in our operation. If the Warri refinery were to be in our hands, we would be smiling now. We have also tried to maintain a stable relationship with the government. You should know that it is a difficult marriage between the private sector and the government”, he stated.

Leave a comment

NO COMMENTS

LEAVE A REPLY