#Country Updates #News #Nigeria #Upstream Oil & Gas News

Refineries, pipelines: companies bid for third party control

Private companies are currently bidding to operate the country’s four refineries on behalf of the Nigerian National Petroleum Corporation, NNPC, according to SweetcrudeReports.

A source close to the matter hinted that allowing a third-party take control of the refineries which have been in an almost zero productive state for many years now, would resolve the challenges of petroleum importation, thereby saving costs.

“There is currently a bid going on for who would operate the refineries on behalf of the NNPC- more like a third party control,” the source said.

It was further gathered that the corporation is also looking for financiers for repair of the refineries pipelines and depots.

Nigeria has four refineries: two in Port Harcourt, and one each in Kaduna and Warri.

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Source: SweetCrudeReports

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