The Nigerian National Petroleum Company Limited (NNPCL) has announced its plan to hand over Nigerian refineries to a reputable third party with expertise in their operation and maintenance.
Currently undergoing rehabilitation, the refineries include Port Harcourt Refining Company Limited (PHRC), the Warri Refining and Petrochemical Company, and the Kaduna Refinery.
Findings revealed the PHRC has a capacity of 210,000 barrels per day, the Warri refinery has a capacity of 125,000 barrels per day, and the Kaduna refinery has a capacity of 100,000 barrels per day.
The rehabilitation contracts were awarded to Tecnimont SpA, Daewoo, and Saipem, respectively.
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The decision was part of NNPCL’s broader efforts to streamline operations, reduce costs, and enhance profitability, according to reports.
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The NNPCL announced a series of mergers aimed at streamlining its operations and increasing efficiency.
The company merged its global oil shipping firms, NIDAS Shipping Services and Nikorma Shipping Services, to create NNPCL Shipping Company.
In addition, Integrated Data Services Limited, NNPCL Oil Field Services, and Frontier Exploration Services have been merged to form NNPCL Energy Services Limited (EnSERV).
Furthermore, the former refining and petrochemical directorate has been combined with the downstream sector to create a more cost-effective structure.
The mergers were part of NNPCL’s commitment to improving performance and delivering enhanced value to its customers.
By consolidating its shipping and energy services, as well as aligning its refining and petrochemical operations, NNPC aims to optimize its operations and provide a more efficient and effective service.
