The document also indicated that the ministry has concluded arrangement to refurbish the refineries to name plate capacity through the injection of private sector partner financing.<\/p>\n
The ministry added that the enabling environment would be created for the establishment of private sector-led Greenfield and modular refineries.<\/p>\n
Clarifying on the rehabilitation of Nigeria\u2019s refineries, the ministry said the tender process was truncated in May 2016, following concerns raised by the National Assembly and Bureau of Public Enterprises (BPE).<\/p>\n
It disclosed that the Nigerian National Petroleum Corporation (NNPC) engaged BPE and secured alignment to ensure that rehabilitation process would not adversely impact any future Federal Government privatization initiative.<\/p>\n
It stated: \u201cPublic tender for co-location of refineries was announced in local and international newspapers specifically in Daily Trust Newspaper issue of Friday 15th April, 2016, and The Guardian Newspaper issue of Monday, April 18, 2016. Received bids were analysed and winners for Port Harcourt Refinery Company (PHRC), and Warri Refinery Company (WRPC) were identified. Discussions are ongoing to finalise the process with approval to be given by both the NNPC Board and the Federal Executive Council respectively.<\/p>\n
\u201cCurrently, the status of existing licenses is being reviewed. General requirements and guidance information for licensing of new refineries has been developed by Ministry of Petroleum Resources to ensure transparency and sanity in the process. Federal Government led efforts to eliminate illegal refineries in the Niger Delta region seeks to promote socio-economic development, create jobs through collaboration with States, Communities and private sector.\u201d<\/p>\n
The Minister of State for Petroleum Resources, Ibe Kachikwu, said in a video podcast on Wednesday that NNPC has taken up the responsibility of a last-resort importer producing petroleum products in an unstable environment as prices continues to take a big hit.<\/p>\n
\u201cThe country target is to cease the importation of petroleum products by 2019 and get advantages in terms of foreign exchange conservation, job creation and stabilise the market place in terms of pricing.<\/p>\n
\u201cOn our refineries, we are currently seeking financing, and not concession nor sale of the refineries for it\u2019s absolutely important to do whatever is needful in order to get the country\u2019s refineries upgraded, enhanced, and get the Greenfield refinery builders supported, and especially get any individual to co-location refinery ownership interest,\u201d Kachikwu added.<\/p>\n
Culled from Guardian<\/em><\/p>\n<\/article>\n