NNPC announces plans to upgrade refiners to reduce expense on fuel imports
Nigeria National Petroleum Corporation (NNPC) has announced plans to upgrade its refineries in order to aid Africa’s biggest crude oil producer to significantly reduce its expenditure on fuel imports, according to African News.
With around 445,000 barrels per day (bpd) of refining capacity across four different facilities which operates substantially below the capacity as a result of mismanagement and a reduction in investment, it has meant the NNPC has had to import a large portion of the country’s gasoline.
Having hired Italy-based company Maire Tecnimont to carry out work and equipment expectations on the Port Harcourt plant, it is anticipated that the work would last around six months and is set to begin at the end of this month.
The overhaul of the Port Harcourt refinery will be the first since the last revamp in 2000.
Due to the first phase of rehabilitation of the Port Harcourt facility, it has seen Nigeria’s effort to ensure local sufficiency in refined petroleum products boosted considerably.