Tag: refineries

Federal Government approves $1.4billion for rehabilitation of Warri, Kaduna refineries

The Federal Executive Council has approved contracts for the rehabilitation of Warri and Kaduna refineries at a cost of $1.4 billion. The breakdown shows that $897 million is earmarked for the Warri refinery and $586 million for Kaduna refinery, the Minister of State for Petroleum, Timipre Sylva, told State House[Read More…]

Petroleum Minister Says There’s “No Money” – Is The Nigerian Government Broke?

The Federal Government has said that it has no money to fix the nation’s refineries. The Minister of State for Petroleum Resources, Ibe Kachikwu, disclosed this on Wednesday while briefing State House correspondents after the cabinet meeting presided over by Vice President Yemi Osinbajo. The minister stated that he had[Read More…]

Buhari Had Promised To Revive Nigeria’s Refineries And Operate Commercially /Optimally; Now Wants To Privatise Them

The federal government may have perfected plans to privatise the nation’s refineries within the next one year, according to revelations by the Minister of State for Petroleum, Dr. Ibe Kachikwu. NewsWireNGR recalls that during the campaign, Buhari had promised to revive and reactivate Nigeria’s minimally performing Refineries to optimum capacity.[Read More…]

Petroleum Minister Says Nigeria Can’t Fix Oil Refineries, Hopeful Investors Will

The Minister of State for Petroleum, Dr Ibe Kachikwu, said on Saturday that the Federal Government needed 700 million dollars to upgrade its refineries to produce at maximum capacities. Kachikwu, who is also the Group Managing Director of NNPC, disclosed this while speaking with newsmen during the re-inauguration of the[Read More…]

FG Re-inaugurates 46km Escravos-Warri Pipeline For Easy Supply of Crude To Refineries

Federal Government has re-inaugurated the 46 kilometres Escravos-Warri-Kaduna pipeline for easy supply of crude to the refineries. This is contained in a statement signed by Malam Garba Deen Muhammad, NNPC Group Public Affairs Manager, on Saturday in Abuja. The statement quoted the Minister of state for petroleum, Dr Ibe kachikwu[Read More…]

Breaking: Buhari Names Rabiu, Mohammed, Abdulrazaq, Kragha, Henry, Inuwa And Adeniran As NNPC New Heads

President Muhammadu Buhari has approved the unbundling of the Nigerian National Petroleum Corporation (NNPC). Seven independent operational units will be derived from the corporation. The new units, each to of which will be headed by a Chief Executive Officer, come into effect immediately. The new units include Upstream, Downstream, Accounts,[Read More…]

‘Buhari Will Reduce Fuel Price To N40 Per Litre’ – Former Petroleum Minister, Tam David-West

President-elect Muhammadu Buhari will reduce the pump price of fuel from N87 to N40, when sworn into power, come May 29th, 2015. This is the projection of elder statesman, Prof. Tam David-west. The former Minister of Petroleum and Energy, stated that petrol price will drop sharply from the current N87[Read More…]

Jonathan Shuns House Of Reps, Approves Sale Of 4 Refineries

Nigeria’s president Goodluck Jonathan Friday approved the commencement of the privatisation of the nation’s four refineries by Bureau of Public Enterprises [BPE]. The House of Representatives as well as oil workers had kicked against the sale of the four oil refineries in Kaduna, Warri and Port Harcourt to private investors[Read More…]

Nigeria Plan Sale of Four State-Owned Oil Refineries Next Year

By Elisha Bala-Gbogbo Nigeria, Africa’s largest oil producer, plans to begin privatizing its four state-owned oil refineries before the end of the first quarter, Petroleum Minister Diezani Alison-Madueke said. “We would like to see major infrastructural entities such as refineries moving out of government hands into the private sector,” Alison-Madueke[Read More…]