The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said the country’s moribund refineries cannot be quickly restored.

Speaking in Abuja on Tuesday when he appeared before the House of Representatives Joint Committee on Petroleum Resources (Downstream), Kyari said the situation was regrettable but the NNPC was making efforts to bring the refineries back to work.

The committee is investigating the increase in prices of diesel and cooking gas.

“The refineries will not come back tomorrow. There is a process going on. We have decided to do a quick fix for the Warri refinery,” the NNPC boss said.

He said no one could guarantee the security of petroleum supply, adding that countries were preserving excess volume that they had in their kitty.

He said, “The world has never seen this kind of uncertainty. Today countries are stockpiling products. Shortly before COVID-19, the world was already facing a shortfall of 3 million barrels of supply of oil.”

The GMD said there had been no control to manage the energy crisis across the world, adding that, “to guarantee energy security means you just make products available at any time and at any cost.”

He disclosed that across the country, making over 200 illegal refineries were being operated.

He said the solution was to restore crude oil production, adding massive intervention was ongoing and by the end of July “we will restore production to a level that is reasonable.”

Kyari added, “Many European countries are asking for rationing gas, they are asking people to alternate their Air Conditioning.

“Today, countries are toying with subsidies because prices are so high because they don’t think they can manage inflation associated with it.”

BeeBeeOoh:


https://dailytrust.com/refineries-cant-be-restored-soon-nnpc

iwaeda:


The scamers, only dead brains will believe those refineries will work

zionmde:

No rather only naive Nigerians believe refinery cannot work

Mark it somewhere that refinery will work in less than 12 months after it has been privatised
Go and read the history of indorama petrochemical u will understand better

iwaeda:


Do you know how obsolete those refineries lines are? It is like when you are refurbishing Peugeot 405 of blessed memory. Trust politicians at your own peril

zionmde:

That's why I told you to find out wat happened to indorama the same thing will happen to those refineries. A lot of u don't know wat pdp and apc have done to this country