Refined petroleum products imports to end 2019, says Baru

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• Targets 3mbpd production 

The 2019 deadline set by the Federal Government to end all forms of petroleun products imports shall be enforced, the Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, has said.
Baru, who stated this at the ongoing Offshore Technology Conference (OTC) in Houston, United States. told reporters that currently the three refineries are producing petroleum products, adding that the importation exit target is achievable.
The NNPC chief who was represented by the Corporation’s Chief Operating Officer, Gas & Power, Saidu Mohammed, stressed that there is no going back on the 2019 target set by the Federal Government to stop all forms of importation of refined petroleum products.
He said: “We load out at least five to six million litres of premium motor spirit (petrol) daily and about that same quantity of automotive gas oil (diesel) daily from the three refineries. That is part of what is making the PMS market in Nigeria stable today. We believe that the set target of exiting PMS importation in 2019, is achievable.”
He maintained that because rehabilitation of the refineries has been hampered by lack of regular Turnaround Maintenance (TAM) over the years, it would take more years to get the refineries fully back to their installed capacities.
“Don’t forget also that for us to exit PMS importation in 2019, we have to also bring in new refineries that will co-locate with existing ones together with the new ones that will be built. Then, we see ourselves as a net exporter of products. On this, I can tell you that we are on course,” he added.
Baru said following NNPC’s foray into the energy sector through electricity generation and other renewables, Nigeria’s perennial power sector woes would be over soon.
Essentially NNPC has been there. Many people don’t know that the NNPC has been part of the power sector. We supply steadily about 1,000 megawatts (Mw) from Afam and Okpai, two of Nigeria’s most reliable power plants serving as one of the cheapest sources of power today in the country, he said.
The NNPC chief said the Corporation has engaged its Joint Venture (JV) partners, including Chevron and Total to build similar power plants at Obite and Agura, adding that the Corporation was also looking at bringing in new investors.
“We have advertised and are currently evaluating potential partners in this regard. The Corporation was fulfilling part of its commercial obligations to Nigeria’s energy sector through power supply from Afam and Okpai, as well as excess power from its refineries. He said that its role in the power sector will be enhanced with the completion of the power plants that it has started and most especially, the three mega power plants in Abuja-Kaduna-Kano that have combined 3000Mw capacity.
Baru said “NNPC is also attending the OTC in order to attract potential investors and most significantly, to showcase its efforts of transforming into a full-fledged energy company.
“We want to showcase to people who have the capacity, competence and technology to invest in Nigeria and help us increase our reserves and enhance the capacity of the Nigerian Petroleum Development Company (NPDC), NNPC’s exploration and production arm. We want to raise NPDC’s production capacity by about 700,000 barrels per day (bpd) to about three million barrels per day.

The post Refined petroleum products imports to end 2019, says Baru appeared first on The Nation Nigeria.

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