Petroleum minister Kachikwu says refineries will start working in 2020

Ibe Kachikwu debunks Sanusi's claim

Kachikwu who had previously stated that the refineries will be fixed in 2019 disclosed that the nation’s refining capacity will reach expected 1.1 million barrels per day in 2020.

Minister of petroleum, Ibe Kachikwu, says plans by the government to fix refineries and make them work again to utmost capacity will materialise in 2020.

Kachikwu who had previously stated that the refineries will be fixed in 2019 disclosed that the nation’s refining capacity will reach expected 1.1 million barrels per day in 2020; adding that desire to achieve fuel sufficiency may not be realisable the same year.

The minister disclosed this on Monday, November 26, in Lagos at the 18th edition of the International Biennial Health Safety and Environmental (HSE) Conference on the oil and gas industry in Nigeria organised by the Department of Petroleum Resources (DPR).

“I am very excited about the development as they tend to create fuel sufficiency as well as employment opportunities. We are also working hard to see the Nigerian National Petroleum Corporation (NNPC)’s four refineries coming up with 425,000 b/d in 2020.

“Hopefully, we will be having board meeting next week where we will take some soft landing decisions for the commercial investment on the refineries. In all, we are expecting about 1.1 million barrels refining capacity by 2020,” he said.

Kachikwu said the 1.1million barrel per day will be achieved in 2020 when Dangote Petrochemical refinery’s 650,000 bpd, Nigeria’s four refineries of 450,000bpd capacity and three modular refineries come on stream.

During an interview he had with BBC last year, Kachikwu vowed to vacate his office if the country still imports fuel by 2019.  He noted that he was committed to delivering the future of oil in Nigeria.

In the Interview, the minister said “2019 is the target time… I target 2019. If I don’ t achieve it, I will walk (resign)…I put the date and I will achieve it”.


Source: News