Friday, March 1, 2024
HomeBusinessNEW INVESTORS WILL TAKE OVER NIGERIA’S REFINERIES BY SEPTEMBER - KACHIKW

NEW INVESTORS WILL TAKE OVER NIGERIA’S REFINERIES BY SEPTEMBER – KACHIKW

U

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has recently revealed that new investors are expected to revamp the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemicals Company (WRPC) and Kaduna Refining and Petrochemicals Company (KRPC) by September 2017.

Nigeria now has sizeable willing investment portfolio for the refineries, he said at the sideline of the 2017 Offshore Technology Conference (OTC) in Houston, Texas.

The new investors are expected to repair, revamp and maintain the refineries according to the terms and conditions of the contract, he said according to Guardian.

When completely repaired, the refineries would now satisfy the country’s consumption need, he added.

RELATED ARTICLES

Most Popular

Recent Comments

Jegede Olaniyi Isaac on TENSION: AKPABIO FINALLY GOES DOWN
Emmanuel Esio on ADVERTORIAL
Melville Archibong on IS ENOIDEM PART OF UDOM’S CABINET?
Inyene Anthony Archibong on QIT SHUTDOWN: NIGERIA TO LOSE N131.13BILLION
Grace Chidubem Ehimiaghe on Akparawa Ephraim Inyang: Honesty Personified
Bidiak Oduononwi on IWAUDOFIA GETS EXCELLENCE AWARD
Anietie Christopher on IWAUDOFIA GETS EXCELLENCE AWARD
Prince David Ebieme on IWAUDOFIA GETS EXCELLENCE AWARD
Obot James on PDP SHUNS PAUL EKPO