The Federal Government had begun the overhaul of its refineries starting with the Port Harcourt Refinery to achieve its 2023 target of ensuring that local refineries operate optimally.
The Nigerian National Petroleum Corporation, NNPC, Group Managing Director Mele Kyari announced this while speaking on ‘Harnessing oil and gas potential for national development,’ at the Annual Conference of the Association of Energy Correspondents of Nigeria, NAEC in Lagos.
Kyari said NNPC had given itself a three-year deadline to review the operations of its refineries, support condensate plants and open up the midstream sector. He added that Nigeria had remained a net-importer of petroleum product.
On his part, the Chairman of Oil Producers Trade Section and Managing Director of ExxonMobil Nigeria, Paul McGrath expressed concerns about the cost of doing business in the country.