NNPC approves licenses for 13 modular refineries

The Nigerian National Petroleum Corporation (NNPC) has announced that about 35 expressions of interest for the establishment of modular refineries had been declared and that the Department of Petroleum Resources (DPR) had issued licenses to 13 of them.

Group Managing Director of the NNPC said the measures is part of the corporation’s commitment to actualizing the December 2019 target set by the Federal Government to end the importation of petroleum products into the country.

The modular refineries, according to Baru, will stop the illegal refining of crude and also create employment and wealth among residents of the Niger Delta.

He further explained that in terms of refining and production of local petroleum products, the ongoing arrangement with the original builders of the refineries will return them to at least 90 percent capacity utilization before the 2019 deadline.

Baru noted that the long cherished 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.

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

Recall that the Minister of State for Petroleum, Dr. Ibe Kachikwu had recently at the commissioning of Petrolex’s mega oil city in Ibefun Ogun- State assured Nigerians of the Government determination to end the importation of refined oil into the country by 2019.