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Friday, November 25, 2011
The government of Niger is asking for an audit of its newly established Soraz oil refinery. The refinery, built by Chinese firm CNPC in a JV with the government, saw its construction cost rise from $600 million to just under $1 billion and the government wants to know why.
The news of the planned audit, which was announced on state television, comes just days before its official inauguration.
"Niger is going to commission an audit on the cost of the refinery and the Chinese are in agreement with that. If it turns out that there are questions over the price, we will go back to the negotiating table with our partner," Energy Ministry spokesman Lawan Gaya said.
The spokesman also said that a reduction in the price would be felt in lower local petrol prices from oil refined at Zinder, according to a Reuters report.
The crude processed by the Soraz will come from CNPC’s Agadem field, which is scheduled to start production soon.
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