NNPC aims to end product swaps in 2023
Nigerian National Petroleum Corp. (NNPC) will continue swap deals to secure products until the domestic refining sector is fully functioning, in 2023. NNPC’s head Mele Kyari set out his plans during a webinar for the African Refining Association.
Overhauling the country’s four state-owned plants is at the heart of NNPC’s plans. NNPC is working with international engineering, procurement and construction (EPC) contractors “to revamp the existing refineries to operate at world-class capacity utilisation levels”, Kyari said.
The official also noted the importance of restoring product storage deports and associated pipelines. NNPC is using a build, operate and transfer (BOT) strategy for these facilities, using private sector financing.
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