ABUJA - MINISTER of State for Petroleum and Group
Managing Director of Nigeria National Petroleum
Corporation, NNPC, Dr. Emmanuel Ibe Kachikwu yesterday
said that the four refineries in the country will require
between $300 million to $500 million to function
effectively.
The minister disclosed this during an interactive meeting
with the joint House of Representatives Committee on Gas
Resources, Petroleum (Downstream and Upstream) and
Local Content chaired by Rep Victor Nwokolo over the
controversy on the recent unbundling of NNPC to 30
companies.
He acknowledged the communication gap between his
office and the National Assembly on the issue of
unbundling of the NNPC, adding that the concerns
expressed by members were legitimate.
Kachukwu said that the "unbundling was used to qualify the
sub-sects" otherwise called 'Divisions', and not companies
as would have been applicable to the actual unbundling of
the Corporation as stipulated in the PIB.
He assured that the restructuring of NNPC will help in
achieving 16 to 18 month self-sufficiency of supply of
Petroleum products as well as the establishment of the
modular type refineries by investors as contained in the
recent advert placed by the Corporation.
He noted that when the 650,000 refinery planned by
Dangote Group comes on-stream by 2020, it would boost
domestic refining capacity, adding that the policy was to
drive the oil marketers to invest in the industry going
forward.
The Minister explained that 17 subsidiaries of NNPC had
been identified and that additional four were created,
adding that the administrative restructuring would help in
generating more jobs, profitability and efficiency of various
sub-sects of the Corporation, including gas and power,
property, pipeline and refineries, among others.
Kachukwu noted that 70 per cent of the N350 billion loss
incurred by the Corporation came from PPMC, adding that
plans are underway to adopt Public Private Partnership
(PPP) in the bid to boost the viability of the NNPC
subsidiaries Inc!using shipping company, medical centres.
According to him, the Corporation was on the verge of
finalising arrangement with an American company to
maintain the NNPC medical centres adding that the
negotiation has reached advance stage with the World
largest shipping company, to drive the NNPC shipping
company established over the past eight years without
owing a vessel.
He assured that the Corporation has no plan to disengage
the 10,000 workers on its payroll but added that the
administrative restructuring will help to put the 3,000
redundant staff in the competency venture.
The lawmakers and the Minister resolved to work
harmoniously towards the timely passage of the Petroleum
Industry Bill (PIB).

www.vanguardngr.com/2016/03/nigeria-needs-500m-to-fix-refineries-kachuikwu/

M

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Make them leave d refineries

After the billions spent on turnaround maintenance?

Kachikwu is brilliant!

That is another $500million budget of yams to be looted by Kachikwu and his cohorts.

Nigerian government should have nothing to do with stuffs as technical as crude refining. FG has failed in running every know govt outfit ranging from Nigerian Airways, Nigerian Railways, NITEL, NEPA, NIPOST to even simple National stadiums. They will only continue to steal these funds and Kachikwu is only trying to cut his own cake cos its clear to the deaf that those refineries cannot work to meet our capacity.

In the Oil and Gas upstream, FG entered a JV partnership with the Shells, Mobil, Chevron, Total, Agip etc ...... why cant they enter same JV partnership in the downstream sector (refineries)? They can own majority shares in the partnership (like 60%) while the partner operates the organizations just like the upstream.

There are private outfits whose core business is refining, lets get them involved. We should stop fooling ourselves, govt has no direct business in the refining business

What is wrong with these BASTARDS? How much will build a new refinery?

SAI Fuuckari!!!

Phame:
Kachikwu is brilliant!

His brilliance has not helped thus far. The Energy sector is in utter mess under him.
He played his cards too early and the unions have cornered him. Incase you don't know, three of the seven DGs of the new NNPC outfits are his friends from Mobil. As usual, they would bamboozle the illiterate masses and carte away all the money.

PUSIDRILA:
What is wrong with these BASTARDS? How much will build a new refinery?

SAI Fuuckari!!!

Nigerian govt should have no business building new refineries or fixing the old ones. They have failed in all similar ventures. They should simply get into partnership with outfits to whom refining is core business.

ratiken:


His brilliance has not helped thus far. The Energy sector is in utter mess under him.
He played his cards too early and the unions have cornered him. Incase you don't know, three of the seven DGs of the new NNPC outfits are his friends from Mobil. As usual, they would bamboozle the illiterate masses and carte away all the money.

are you sure of all this? If they are his friends, then good. They should be able to take nnpc to d level where exxonmobil is.

300 to 500mUSD? oh my that is much

well i hope the fg will cease from its corrective maintenance habit to preventive maintenance to avoid unnecessary spendings in the near future

Phame:
are you sure of all this? If they are his friends, then good. They should be able to take nnpc to d level where exxonmobil is.

You don't get it. NNPC is now in the hands of few friends who are more Nigerian than you ... forget the oratory.

Simple collect Abacha Loot and use it, don't touch GEJ loot now we will need it in Future

ratiken:
That is another $500million budget of yams to be looted by Kachikwu and his cohorts.

Nigerian government should have nothing to do with stuffs as technical as crude refining. FG has failed in running every know govt outfit ranging from Nigerian Airways, Nigerian Railways, NITEL, NEPA, NIPOST to even simple National stadiums. They will only continue to steal these funds and Kachikwu is only trying to cut his own cake cos its clear to the deaf that those refineries cannot work to meet our capacity.

In the Oil and Gas upstream, FG entered a JV partnership with the Shells, Mobil, Chevron, Total, Agip etc ...... why cant they enter same JV partnership in the downstream sector (refineries)? They can own majority shares in the partnership (like 60%) while the partner operates the organizations just like the upstream.

There are private outfits whose core business is refining, lets get them involved. We should stop fooling ourselves, govt has no direct business in the refining business

If you have been paying attention, you would know that Kachikwu doesn't want the government to run the refineries. Even this statement says he wants the individual units of the restructured NNPC to be run profitable.
You need to go back and read his take on the refineries.

This oil na curse. E don't finish Nigeria money

AZeD1:

If you have been paying attention, you would know that Kachikwu doesn't want the government to run the refineries. Even this statement says he wants the individual units of the restructured NNPC to be run profitable.
You need to go back and read his take on the refineries.

No you need to go back and read. The individual units post restructuring are still government outfits under the ministry of petroleum. I am clearly saying that they should not be allowed to run/ operate the refineries. The private sector should not be allowed to operate alone.

JV partnership as practiced is the upstream needs to be transferred to the downstream sector .... and let outfits with refining as core business operate the refineries while the govts holds the majority share.