Nigeria to take decision on refineries’ upgrade December 15

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, Thursday disclosed that the board of the Nigerian National Petroleum Corporation (NNPC) will on December 15, hold further discussions with investors to decide whether to continue with the planned upgrade of the country’s refineries in Warri, Port Harcourt and Kaduna, or not.

Kachikwu said negotiations with investors for the refineries’ upgrade has been slow, stressing that “the board of the NNPC has decided that by December 15, we should draw a ceiling whether we should be going forward or not with investors.”

“We think that we will be able to go forward with minor adjustments in terms of the terms and by first quarter of next year we begin to see some works begin at least with the initial ORBs,” he added.

Source: THISDAY

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