The Nigerian National Petroleum Company Limited (NNPC), has disclosed that the Kaduna Refinery and Petrochemicals Company (KDPRC) has undergone about 60% mechanical completion......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
NNPC Vice President (downstream) Isiyaku Abdullahi disclosed this in Abuja during the NNPC Workshop/Engagement session with actors.
NNPC is working on the pipelines
Abdullahi said the refinery will be operational this year, as the state oil company is working on the pipelines and the refinery.
According to him, NNPC is working strenuously to deliver the facility this year, stating that the company was using its in-house capacity to work on the pipelines.
“It should come to stream this year. We are working tirelessly on the pipelines. We are doing a house project; we have gone more than 60 per of mechanical completion,” he said.
He revealed that all three refineries work under his supervision and the Port Harcourt and Warri refineries are now fully functional.
NNPC to sell shares soon
The NNPC’s top boss urged Nigerians to prepare to purchase the national oil company’s shares soon.
He asked Nigerians to prepare funds to invest in oil and gas as the investment is desirable globally.
He said that NNPC will issue an IPO very soon and that Nigerians should set aside some funds to invest in the company.
This development follows the Dangote Refinery’s reduction in diesel prices on Tuesday, February 11, 2025.
Dangote Refinery slashes diesel prices
Dangote Refinery crashed diesel prices to N1,020 per litre from N1,075 at the loading gantry.
The Refinery said the move was to serve its customers and Nigerians better.
This is the third time the plant has reduced diesel prices from N1,700 per litre to the current price since it started producing the commodity in January 2024.
The development follows the refinery’s reduction of petrol prices from N970 to N890 per litre.
Ken Ife, an economist disclosed that the facility sacrificed about N10 billion to make petrol available to Nigerians at a uniform price during the Christmas and New Year holidays.
He applauded the Lekki-based plant for setting a new benchmark in Nigeria’s energy industry and unlocking export opportunities.
According to him, the equalisation fund was responsible for managing price differentials and transport costs involved in distributing petrol nationwide.
Dangote Refinery to reach full capacity in 30 days
The president of Nigeria’s Dangote Oil refinery, the biggest in Africa, stated Monday that it may start running at full capacity in 30 days.
Nigerian billionaire Aliko Dangote constructed a refinery in Lagos that can handle 650,000 barrels per day. It produced jet fuel, naphtha, diesel, and other products from crude in January of last year.
In September, it began processing gasoline. When running at full capacity, it hopes to compete with European refiners, but it has been having trouble obtaining enough crude locally.
The Dangote oil refinery’s head, Edwin Devakumar, stated that the facility was now running at 85% capacity and that “we can go 100 per cent in 30 days.”
Reuters reported that despite an arrangement with the Nigerian government to purchase petroleum in the local currency, the refinery was unable to secure adequate volumes last year and had to import crude.
Domestic refineries cry out over zero allocation of crude oil
Legit.ng earlier reported that local refineries, including modular refineries, have decried zero allocation of crude oil by producers, which they noted may impact pump prices.
Access to feedstock by local refineries has been at zero level despite Nigeia’s increasing crude oil output.
Owners of local refineries have asked the Nigerian government to ensure that oil-producing companies prioritise domestic refineries before exporting.