NNPC to rehabilitate our Refineries for $550M in 18 Months

The Turn Around Maintenance (TAM) of the nation’s refineries will cost $550million, the Nigerian National Petroleum Corporation (NNPC) said yesterday.

The corporation blamed the TAM’s delay on the refusal of the original builders of the  four refineries to handle the maintenance contracts.

There are two refineries in Port Harcourt, one in Kaduna and another in Warri. They are all working below capacity, unable to meet the consumption demands of Nigerians.

The Coordinator,  Corporate Planning, and Strategy of the NNPC,  Dr. Tim Okon, told the Senate Committee on Petroleum Resources (Downstream), in Abuja while defending the budget proposal of the corporation, that the NNPC had worked out an alternative local arrangement that  would enable it refine about 400,000 barrels of crude oil daily after the completion of ongoing rehabilitation.

“The exercise which started in October last year is for a period of 18 months and it will be completed in the first quarter of next year.

http://thenationonlineng.net/new/nnpc-to-repair-refineries-with-550m/

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