August 21, 2018

DPR withdraws approval for private refineries

DPR withdraws approval for private refineries

Nigeria’s plan of producing over 2.2 million barrels per day (bpd), the reason for which 45 licences were issued by the Department of Petroleum Resources (DPR) between 2002 and 2014 for the establishment of private refineries in the country, may remain a pipe dream never to be realised.

This is because the DPR has already withdrawn the licences as the projects failed to take off after an 18-month deadline, due to political interferences, a lack of finance and technical know-how and inability to get the assurance of crude oil supply from the Federal Government.

Besides, an agreement between the Nigerian National Petroleum Corporation (NNPC) and China State Construction Engineering Corporation (CSCEC) for the construction of three greenfield refineries and a petrochemical plant in Nigeria has also been stalled due to the inability of the two parties to conclude the deal. Read more

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