Oil: NNPC plans to acquire a stake in six private refineries

Nigerian National Petroleum Corporation (NNPC) spokesman Kennie Obateru said in a statement that the company is firm in its plans to acquire a stake in six private refineries under development in the country with the aim of strengthen national energy security.

This decision supports federal government guidelines that stipulate the state-owned enterprise’s participation in any private refinery with a capacity exceeding 50,000 bpd.

“In this regard, the company has identified at least six refinery projects in which it intends to seek equity participation, five of which are in the development stage, with the Dangote refinery being the largest of the between them, ”Obateru said.

Petroleum Africa