Nigeria now a petroleum products refining hub as its national oil and gas state-owned conglomerate, the Nigerian National Petroleum Corporation (NNPC), build additional two refineries. also with plans to increase the local refining capacity of petroleum products to 850,000 barrels per day by the year 2020.
The building of the two new refineries is coming just as the federal government is keen on privatising the four existing refineries, a decision that is being resisted by Nigeria's organised labour.
source revealed that Group Managing Director of NNPC, Andrew Yakubu, said this in Abuja during a lecture series in remembrance of the first place where oil was discovered and exploited in Nigeria – Oloibiri. It was organized by the Society of Petroleum Engineers.
He said in addition to building new refineries, the corporation would also rehabilitate all the four existing refineries in order to transform Nigeria into a regional petroleum products refining giant.
According to Yakubu steps were underway by government to put in place appropriate policy frameworks for gas-based industrialization.
He argued that Nigeria was keying into a new global development paradigm that relied on gas for industrial development.
To this end the key aspiration of Nigeria was to reposition gas for rapid domestic, regional and export penetration, develop domestic gas market and increase gas reserves from 180 trilion cubic feet to 215trillion cubic feet, also to shift towards reducing gas flaring, capture economic value and generate as much revenue from gas as oil and create new industries that would sustain industrialization that would enable Nigeria to diversify its export base.
according to Yakubu 'the Corporation would continue to focus on delivery of gas to power, saying, “Increasing power supply will enable unlocking GDP growth and creating jobs".
....as for me......i wish Nigeria good luck for this development,but what's your take about this..do you think they're going to implement this project?....read more!......
The building of the two new refineries is coming just as the federal government is keen on privatising the four existing refineries, a decision that is being resisted by Nigeria's organised labour.
source revealed that Group Managing Director of NNPC, Andrew Yakubu, said this in Abuja during a lecture series in remembrance of the first place where oil was discovered and exploited in Nigeria – Oloibiri. It was organized by the Society of Petroleum Engineers.
He said in addition to building new refineries, the corporation would also rehabilitate all the four existing refineries in order to transform Nigeria into a regional petroleum products refining giant.
According to Yakubu steps were underway by government to put in place appropriate policy frameworks for gas-based industrialization.
He argued that Nigeria was keying into a new global development paradigm that relied on gas for industrial development.
To this end the key aspiration of Nigeria was to reposition gas for rapid domestic, regional and export penetration, develop domestic gas market and increase gas reserves from 180 trilion cubic feet to 215trillion cubic feet, also to shift towards reducing gas flaring, capture economic value and generate as much revenue from gas as oil and create new industries that would sustain industrialization that would enable Nigeria to diversify its export base.
according to Yakubu 'the Corporation would continue to focus on delivery of gas to power, saying, “Increasing power supply will enable unlocking GDP growth and creating jobs".
....as for me......i wish Nigeria good luck for this development,but what's your take about this..do you think they're going to implement this project?....read more!......
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