The refinery was sold by the administration of former President Olusegun Obasanjo to Aliko under its privatisation programme.
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The Chief Corporate Communications Officer of the company, Femi Soneye, broke the news on Tuesday with a video.
He said this on Tuesday following reports from a statement by the Director of Upstream, Ministry of Petroleum, Engr. Kamoru Busari.
Dangote made this known during his keynote address at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos.
Minister of State for Petroleum Resources, Heineken Lokpobiri has confirmed that the Port Harcourt refinery will be ready this year.
Speaking at the inauguration ceremony in Port Harcourt, Dr Maikanti Baru, Group Managing Director of NNPC, said the move was part of government’s effort to achieve 90 per cent local refining capacity.
The News Agency of Nigeria reports that the signing of the MoU was witnessed by President Muhammadu Buhari and his Nigerien counterpart Mahammadou Issoufou at the new Banquet Hall, Aso Rock, Abuja.
The reason is that crude oil is cheaper to move than products, so refineries tend to be located near demand source. However, for smaller scale refineries, it is more economical to locate close to the source of feedstock.
Rabiu Suleiman, the Senior Technical Adviser to the Minister of State for Petroleum Resources, made this known at the ongoing Nigeria International Petroleum Summit in Abuja on Wednesday.
Abubakar Muhammed, the General Manager, Services of the Nigerian National Petroleum Corporation, said the nation’s four refineries would operate at…
Mohammed said that due to the improved operational efficiency of the company at the moment, the plant operated at 60 per cent capacity
“I will like to say without fear of contradiction that what happened was a boat explosion involving vandals who were trying to steal products from our pipeline
He said he had the support of the chiefs and traditional rulers in his crusade to rid the area of the menace
“This is a one-man crusade to completely stop this menace,” he said
This is the second time the Federal Government is disclosing plans to privatise its refineries