The Group Managing Director of NNPC, Ibe Kachiukwu says there are plans
by the oil corporation to sell off refineries that do not meet up the
deadline for their rehabilitation. Kachiuwku made the disclosure while
speaking to newsmen in Lagos recently
"By the end of December when the 90-day ultimatum will expire, any
refinery that does not work optimally will be sold. I am determined to
make a difference during my tenure. We are losing N2.2 trillion monthly
to refinery inefficiency. As at today, the average refining performance
is 30 per cent.
If by December, the refineries don’t work, I will
export crude allocation and import refined petroleum products until we
fix the refineries. Right now, the Port Harcourt refinery is showing
signs that it will meet the December deadline. However, I am not saying
Warri and Kaduna refineries will not meet the deadline, but I hope they
all make it, so that we can continue to utilise our crude allocation to
boost domestic refining.’’he said
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