Petroleum Africa
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Thursday, October 26, 2017
Speaking to attendees at Africa Oil Week in Cape Town Nigeria’s minister of State for Petroleum Resources, Emmanuel IbeKachikwu, revealed the country’s newest refinery will come onstream by the end of 2019.
The refinery with capacity to process 650,000 bpd, which is being built by Dangote, should “be enough to meet local needs,” Kachikwusaid.
Nigeria has a number of refineries, unfortunately they are all in disrepair and produce far below their respective nameplate capacities. In 2016 the state-run firm NNPC issued a tender to find partners to overhaul its refining sector. Kachikwu said Nigeria was close to finalizing the process for private partners to revamp three existing refineries.
If and when the refineries are revamped, they would add an estimated 450,000 bpd to Nigeria’s totals and allow it to reduce its import bill.
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