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HomeTop NewsNigeria oil firm, NNPC launches bids for repair of P-Harcourt refinery

Nigeria oil firm, NNPC launches bids for repair of P-Harcourt refinery

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Nigeria’s state oil firm, Nigerian National Petroleum Corporation (NNPC) said it launched bids for investors to carry out engineering work in a revamp of its refinery in the southern oil city of Port Harcourt, it said on Tuesday.

In August, the NNPC said it was asking investors to bid to fix pipelines and depots serving its four oil refineries.

The following month the oil firm said it was holding talks to give up majority stakes in the refineries.

The refineries, located at three sites, have run only sporadically and NNPC shut them down earlier this year while they awaited repairs and upgrades.

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“The Nigerian National Petroleum Corporation (NNPC) has opened a new chapter in its refineries rehabilitation project with the public opening of bids on Monday for the Engineering, Procurement, and Construction phase of the rehabilitation of the Port Harcourt Refining Company (PHRC),” NNPC said in a statement issued on Tuesday.

Africa’s top oil exporter has made producing its own fuels a priority for years but efforts in recent years to revamp its refineries have failed, leaving it almost entirely reliant on imports.

In the statement, NNPC said it remained committed to overhauling the country’s refineries to “ensure reduction of petroleum products importation, create jobs and improve the national economy.”

~With Reuters report

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