NNPC says technical, commercial review of refineries ongoing

The Nigerian National Petroleum Company (NNPC) Limited says it has commenced a comprehensive technical and commercial review of Warri, Port Harcourt, and Kaduna refineries.

In an update posted on X on Wednesday, the company said the review is aimed at high-grading or repurposing the refineries as may be required to ensure optimal performance and sustainability.

“Ongoing technical and commercial review for comprehensive assessment of all three refineries,” the national oil company said.

“To high-grade or repurpose as may be required to ensure optimal performance and sustainability.”

According to NNPC, the next phase of the process will involve engaging advanced technical equity partners with a proven track record of operating refineries to international standards.

The company said it would also complete all requisite agreements to enable mobilisation for high-grade implementation or repairs as required.

NNPC said the review and subsequent upgrades are part of its strategy aimed at enhancing energy security and optimising its assets.

“To assure NNPC’s capacity to meet PIA requirements as the supplier of last resort for petroleum products,” the company said.

“To ensure efficient and profitable operation of the refineries.”

Commenting on the updates, Bayo Ojulari, group chief executive officer (GCEO) of NNPC, said the company is being repositioned as a commercially driven and transparent energy organisation serving Nigerians.

In a post on X, Ojulari said the company is “filled with determination” and is dedicating significant time to a detailed review of the facilities to ensure effective operations.

“We are looking ahead with optimism to ensure our refineries operate effectively. We are dedicating significant time to a detailed review and are eager to implement our insights,” he said.

The group CEO added that the company’s motivation stems from its commitment to national prosperity above personal interests.

“This very commitment inspires us as we anticipate creating sustainable solutions for our refineries in the near future,” Ojulari said.

On July 11, Ojulari said it is becoming a ‘bit more’ complicated to revamp state-owned refineries. 

The GCEO said the NNPC is currently reassessing its refinery strategies and aims to finalise the review by year-end.