Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu said on Tuesday that 26 firms have indicated their interest in the revamping of the nation’s three existing refineries.
Revamping the three refineries will require an investment of $2 billion.
Kachikwu said the nation was closed to finalising the process for private partners to revamp three existing refineries, which would lead to the production of 450,000 bpd.
“We are almost at a threshold of finalising the process of selection,” he said, adding that it could announce its selection by January or February.
The minister also said the Dangote refinery, with capacity to process 650,000 barrels per day (bpd) of oil being built in Nigeria is due to come onstream by the end of 2019.
“That should be enough to meet local needs,” Kachikwu told an oil…
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