The Federal Government has indicated that it may consider selling Nigeria’s state-owned refineries as part of ongoing economic reform efforts aimed at attracting investment, enhancing competition, and improving operational efficiency in the downstream oil sector. Nigeria’s four refineries — located in Port Harcourt, Warri, and Kaduna — have a combined installed capacity of 445,000 barrels…
The House of Representatives Committee on Petroleum Resources (Downstream) has initiated a comprehensive investigation into key challenges plaguing Nigeria’s downstream oil sector. The probe will focus on several pressing issues, including the controversial turnaround maintenance of the nation’s refineries, the acquisition of OVH Energy, and growing concerns over the potential market monopoly by Dangote Refinery….
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says petrol prices will crash down following the revival of the Port Harcourt and Warri refineries by the Federal Government. In a statement on Saturday, PETROAN National Public Relations Officer, Dr. Joseph Obele, said contrary to previous doubts the refineries are “now fully operational, with…
The Nigerian National Petroleum Company Limited said in a video clip that over 72 illicit installations for refining crude oil were discovered in the previous week. According to reports, 72 illicit refineries were found and demolished in the states of Rivers, Delta, and Abia. In the Southern Ijaw region of Bayelsa State, on August 18,…
