Kachikwu Calls for IOC Investment in Refining

Monday, April 17, 2017

Nigeria’s Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, is calling for international oil and gas companies (IOCs) to invest in the country’s refining sector.

Speaking at a meeting with top executives of ExxonMobil, Dr. Kachikwu restated the efforts of the government to reduce the drain of importing petroleum products on the country’s budget. He said if IOCs invested in building refineries it would aid the country in reducing costly imports.

Dr. Kachilwu said the refineries could be run on a JV basis with the government providing necessary incentives.

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