Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»News»African News»West African News»Nigeria News»NNPC Seeks To Build Refinery In Akwa Ibom

    NNPC Seeks To Build Refinery In Akwa Ibom

    Nigeria News By David F.Jun 22, 2017No Comments3 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    nnpcimages11An Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, on Wednesday indicated its interest to build a refinery in Nigeria.

    Mr Adi Hartadi, the Head of Investor Relations of the firm gave the indication at a business meeting with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru in Abuja.

    In a statement Mr Ndu Ughamadu, the Group General Manager, Group Public Affairs Division of the NNPC, said the Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity had started gaining momentum.

    Hartadi disclosed that the proposed refinery would be located in Akwa Ibom State and would have a refining capacity for 10,000 barrels per stream day.

    Hartadi stated that the firm had more than 50 years of experience in construction and engineering designed to diversify into downstream operations in Nigeria.

    Responding, Baru, who was represented by the Chief Operating Officer (COO), Refineries and Petrochemicals, Mr Anibor Kragha, said that NNPC placed high premium on investment in the nation’s refining sector.

    See also  Gen Buhari Not Happy With Lack Of Functional Refinery In Nigeria

    Baru said the Corporation had a Greenfield Refinery Department that specialized in new refinery projects and also provided professional support to potential investors in modular refinery in the country in line with the Federal Government’s policy on modular refineries.

    He explained that the country’s three refineries with a combined capacity of 445,000bpd could not function optimally over the years due to lack of investment, adding that NNPC would give necessary support to the Indonesian Company interest in the downstream sector.

    ”On our end, we have embarked on ambitious plan to fast-track programmes to restore our capacity utilization from 30 per cent to a minimum of 90 per cent in the next 24 months.

    ”To do that, we are working on securing financing from third parties, not just funding, but also technical expertise to help us increase our performance to world class levels that they should be,” Baru said.

    See also  Egos Must Be Dropped In APC - Ben Nwoye

    He explained that given Nigeria’s expected population, by 2025, more than 40 million litres of petrol would be required for local consumption, adding that the combined capacity of the nation’s refineries would only be able to satisfy just above 50 per cent of the projected local demand.

    He expressed optimism that with this kind of investment coming steadily, Nigeria could serve as a regional hub of refined petroleum products for West Africa and beyond.

    He called on the investors to be mindful of clean fuel policy across African countries and ensure that they produce fuels that met specification with regards to sulphur content.

    The visit was a follow-up to a bilateral meeting between the Indonesian Trade Minister with his Nigerian counterpart as well as the visit of Indonesian Prime Minister to Nigeria.

    The Indonesian Ambassardor to Nigeria, Mr Harry Purwanto, had recently expressed interest in purchasing more crude oil from Nigeria during a courtesy call esrlier in the year.

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    Akwa Ibom ambassador Harry Purwanto Indonesian Refinery
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    How to end prolonged PDP crisis – Plateau Gov, Mutfwang

    Jun 3, 2023

    Tinubu’s emergence, will of God – Bayelsa APC chieftain, Wilson

    Jun 3, 2023

    No plans to dump PDP for APC – Wike after meeting with Tinubu on Friday

    Jun 3, 2023

    Fuel subsidy not sustainable – APC governors

    Jun 3, 2023
    Add A Comment

    Comments are closed.

    Get Social with Us
    • Facebook
    • Twitter
    • Pinterest 94
    • Instagram
    • YouTube
    Latest Posts

    Tupac’s Star Will Be Well Deserved – Hollywood Walk of Fame

    Jun 3, 2023

    I’m Tired Of Repeating How Much MUFC Needs A Goalie And Striker – Roy Keane

    Jun 3, 2023

    Tina Turner Died Without Meeting Her Grandkids And Great-Grandkids

    Jun 3, 2023

    I Feel Appreciated At Manchester City – Gundogan

    Jun 3, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    Should Diaby Consider Retirement?

    Jan 15, 2014

    Loving Money Too Much Makes You Judas Iscariot’s Twin – Eucharia Anunobi

    Dec 22, 2020

    I Don’t Understand How We Did Not Get A Second Penalty – Mikel Obi

    Jun 28, 2018

    BRICS: The Opponent Awe Of The West by Isidoros Karderinis

    Mar 7, 2023

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?