FEC Okays $1.48bn For Refineries Repair       The Federal Executive Council on Wednesday approved $1.48bn for the rehabilitation of two refineries in Warri and Kaduna. The decision was taken at the weekly meeting of the council presided over by Vice-President Yemi Osinbajo. Osinbajo stood in for President Muhammadu...

'Nigeria, Others Require $15.7bn To Curb Refineries’ Emissions'     African nations need to spend about $15.7bn on their refineries to curb emissions and meet climate-change targets as demand for oil and gas surges, an industry lobby group, African Refiners and Distributors Association, has said. The Executive Secretary...

Refineries Record 13-month Loss Of N104.3bn - NNPC     A total loss of N104.3bn was recorded by Nigeria’s refineries in 13 months, even as the facilities refined no crude oil throughout the period, the latest report released by the Nigerian National Petroleum Corporation showed. An analysis of...

Buhari Authorizes NNPC To Acquire 20% Stake In Oil Refineries     As part of steps to attract investment, President Muhammadu Buhari has authorized the Nigerian national Petroleum Corporation (NNPC) to acquire 20 per cent stake in any private oil refinery producing at least 50,000 barrels per...

'Nigeria, Others Need $15.7bn To Upgrade Refineries'       African countries will need about $15.7 billion to upgrade existing 36 refineries on the continent to produce petroleum products that will conform with a planned level of sulphur content. African Refiners and Distributors Association (ARDA) disclosed that the $15.7...

NNPC Plans To Acquire Stakes In Six Private Refineries       The Nigerian National Petroleum Corporation on Monday said it is currently considering equity participation in some private refineries across the country. It said this was in line with a Federal Government’s policy directive which stipulated the mandatory...