The Nigerian National Petroleum Corporation (NNPC)
says it may sell refineries that fail to work optimally by
the expiration of the 90-day ultimatum for their rehabilitation. Dr Ibe
Kachikwu, the NNPC Group Managing Director, disclosed this at an interactive session with news men in Lagos. Kachikwu said “by the end of
December when the 90-day ultimatum will expire, Any refinery that does not work optimally will be sold.
“I am determined to make a difference during my
tenure. We are losing N2.2 trillion monthly to refinery
inefficiency. As at today, the average refining
performance is 30 per cent.
“If by December, the refineries don’t work, I will
export crude allocation and import refined petroleum
products until we fix the refineries. Right now, the
Port Harcourt refinery is showing signs that it will
meet the December deadline.
However, I am not saying Warri and Kaduna refineries
will not meet the deadline, but I hope they all make it,
so that we can continue to utilise our crude allocation
to boost domestic refining.”
Kachikwu expressed the hope that the NNPC cash call
arrears, which stood at N1.1 trillion, would be settled
by the end of December 2015.
“By December, I hope to settle all the cash call arrears
and grow Nigerian Petroleum Development Corporation
(NPDC) to where it is supposed to be,” he said.
Post a Comment