Indonesian Firm To Build Crude Oil Refinery In Nigeria - NNPC
Nigeria’s plan for fuel sufficiency just got a boost.
If things work according to plan, fuel importation could end by 2019.
While Nigeria awaits the commencement of operations of Dangote's refinery in 2018, an Indonesian engineering firm, PT Intim Perkasa has expressed an interest in building a refinery in Akwa Ibom state.
Nigeria’s oil company, the Nigeria National Petroleum Corporation, NNPC disclosed this on Wednesday.
Nigeria has been looking for investors in the sector to build refinery in the country in order to reduce reliance on imported oil products which consume a large portion of Nigeria’s scarce foreign currency reserves.
A representative of PT Intim Perkasa Nigeria Ltd, a subsidiary of the Indonesian company, indicated interest in building a modular refinery in a community close to Uyo.
It would have a refining capacity of 10,000 barrels per day.
"We have embarked on an ambitious plan to fast-track programmes to restore our capacity utilization from 30% to a minimum of 90% in the next 24 months," said Maikanti Baru, NNPC's Group Managing Director.
"To do that, we are working on securing financing from third parties, not just funding, but also technical expertise," he added.