Thursday, March 31, 2011

Nigeria's state-run oil firm to build 3 new refineries's-state-run-oil-firm-to-build-3-new-refineries-201103317105.html

Lagos, Nigeria -

The state-run Nigerian National Petroleum Corporation (NNPC) is to build three more refineries at a cost of US$25 billion between now and 2014, according to the company's executive director of refining and petrochemicals, Mr. Philip Chukwu. He told journalists Tuesday that the capacity of the three new refineries would be 885,000 barrels per day (bpd), bringing the total capacity of the country's refineries to 1.3 million bpd.

Nigeria currently has four refineries which are however operating at only 30 per cent of their installed capacities due to poor maintenance and years of neglect.

Most of the domestic petroleum products consumed in Africa's biggest oil producing nation are imported.

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