Nigeria goment oil company dey talk with Chinese company to make refinery dey work again
Nigeria wey be one of di biggest crude oil producers dey try to revive dia refineries afta many years of losses and underperformance.
NNPC dey dey talk with one Chinese company about one of the state-owned oil firm refineries, their chief executive Bayo Ojulari talk on Wednesday.
NNPC CEO Bayo Ojulari talk say dem dey find experienced operators as equity partners to revive their four refineries after years wey dem dey make loss and underperform.
He say internal review wey dem do shortly after he begin the job last April show say the refineries dey run big losses, operating cost high and dem dey spend plenty on contractors while the volume wey dem dey process remain low.
NNPC board don approve strategy to bring in refinery operators wey get proven expertise rather than contractors, Ojulari add, and he talk say dem dey for advanced talks with several interested parties.
"I just comot from one meeting with one of the potential investors," Ojulari talk, him no give name. "Dem dey go the refinery tomorrow to inspect. Na Chinese company and dem get one of the biggest petrochemical plants for China."
Nigeria don struggle for years to rehabilitate im old refineries wey dey operate far below capacity, this one make Africa biggest crude oil producer dey depend heavy on imported fuel. Government dey hope say new partnerships go help change that situation.
Ojulari talk say dem don halt the plants to give time to assess options to restore dem, and this one come as Dangote Refinery launch give small breathing space for local fuel supply.
He say NNPC no dey sell the refineries, but dem go surrender part of the equity to partners so that the plants fit self-finance their operations.